Bitcoin Price News: Harmonic Pattern Signals Potential Reversal Zone

Bitcoin’s recent pullback has landed it at a crucial spot within a harmonic chart pattern. Right now, BTC is testing what technical traders call the “C leg”—a zone where reversals often happen if the pattern holds.

What the Chart Shows

According to finansalTRader, if this level doesn’t hold, we could see Bitcoin drift down to around $98,000. But if buyers step in here, a bounce back toward $117K might be in the cards. Looking at the 4-hour BTC/USDT chart, there’s a clear harmonic formation playing out. Bitcoin has broken below a short-term uptrend line and dropped roughly 8.5% from the blue zone marked on the chart. Here’s where things stand:

• Current Price: Around $106,640
• Support Zones: $105K → $103.5K → $102K, with a major target at $98K if selling continues
• Resistance Levels: $110K → $116K → $119.5K if a rebound kicks in
• Harmonic Structure: The O–X–A–B–C pattern suggests we’re at the “C” point, a common area for potential reversals

Two Scenarios to Watch

If Bitcoin holds above $103K: We could see a rebound toward the $117K area—the red supply zone on the chart where sellers previously stepped in. This wouldn’t necessarily mean the downtrend is over, just that buyers are defending this level for now.

If Bitcoin drops below $103K: The next stop would likely be around $98K, which lines up with the harmonic completion zone. This would be more of a liquidity grab than a full-blown collapse, and it’s where the analyst thinks the correction could finally exhaust itself.

Bitcoin’s pullback is happening alongside some broader risk-off sentiment in the markets. That said, the long-term fundamentals—like institutional buying and ETF inflows—are still solid. Short-term volatility like this is pretty normal, and harmonic patterns like this one help traders spot where big players might jump back in after a healthy correction.

Bottom line: Bitcoin is at a pivotal spot. Whether it bounces here or drops further will likely set the tone for the next few weeks.