Bitcoin’s Shooting Star Signals Potential Market Reversal
- Bitcoin reached a record high above $108,000 in December 2024.
- The monthly chart formed a “shooting star” pattern with an upper wick nearly four times the body size.
- The critical support level for bulls is $91,186, the December low.
The formation of the shooting star pattern at these levels highlights significant bearish potential, with sellers potentially gaining control if prices fall below $91,186. This sets a precedent for cautious trading strategies amid macroeconomic pressures.
