Bitcoin Battles Key Resistance as Bearish Shark Pattern Emerges—Traders Brace for Impact

Bitcoin’s price action hits a make-or-break moment, with a ominous shark harmonic pattern flashing warnings. Bulls and bears lock horns at a critical resistance level—will this be the breakout or the breakdown?

Technical traders are sweating over charts while Wall Street ’experts’ suddenly remember crypto exists—just in time to blame volatility for their bad calls. Meanwhile, hodlers shrug and buy the dip.

Key technical points

• Bitcoin has returned inside a major descending channel, suggesting a bearish retest at resistance.
• A bearish Shark Harmonic is developing, hinting at a strong downside move if price rejects the current zone.
• Key resistance at 96,400 must be broken decisively to flip the outlook bullish; otherwise, risks of a deeper pullback remain elevated.

Detailed technical discussion

Bitcoin previously broke above its long-standing channel but quickly failed to sustain the breakout. The subsequent impulsive move back below the channel indicates that price action has found acceptance once again inside the range, suggesting that the current rally may be nothing more than a bearish retest of resistance before further downside.

Adding weight to the bearish scenario is the formation of a Shark Harmonic pattern. The structure of this harmonic is textbook, with the C-leg forming off a major swing low (A point) and the current price action surging into the D zone, a classic reversal area. If price rejects this area, it would confirm the harmonic and activate downside targets.

The critical level to watch is the $96,400 region, which aligns with the 0.618 Fibonacci retracement, a major point of control on volume profiles, and key structural resistance. A clean breakout above this zone with strong volume would invalidate the bearish harmonic and suggest renewed bullish momentum. Until then, sellers retain the advantage.

What to expect in the coming price action

Bitcoin’s immediate outlook hinges on its reaction to the $96,400 resistance zone. If bulls can force a breakout above this critical level and sustain it with strong volume, the bearish harmonic setup would be invalidated, and Bitcoin could reclaim bullish momentum, aiming for higher highs.

However, failure to break above and a rejection from current levels would confirm the bearish Shark Harmonic, targeting a move toward the $60,000 region, and possibly deeper. Traders should expect heightened volatility around this zone as Bitcoin decides its next major trend.