The BTC price action shows a head and shoulder pattern forming at $18,800, teasing a crash in Bitcoin prices to the $15K mark. The BTC Technical Analysis shows increased selling pressure over the weekend, resulting in a 6% downfall in the last 48 hours. Also, the falling Bitcoin prices crack under the $18,850 support level with 19 hours left on the daily clock. So, will the bearish pressure keep the closing price below the neckline to give a head and shoulder breakout? Key Points: The Bitcoin prices show a bearish breakout of $18,850. The bullish failure at $18,850 can drop Bitcoin to $15K. The intraday trading volume in Bitcoin is $35.02 billion. Source – TradingView BTC Technical Analysis The BTC price displayed an increasing selling pressure on 13th September, resulting in a 10% downfall from the $22,500 resistance level. The decline results in a bearish engulfing candle and prolongs the downtrend to the $18850 level over the week. During the weekend, the selling pressure boosted, resulting in a 6% drop in BTC prices. Currently, the buyers at the $18,850 demand level struggle to assert dominance over the price trend and avoid a bearish breakout. Additionally, the price action spotlights a head and shoulder in the daily chart with the neckline and the $18850 support level. Therefore, the downfall below this crucial level will unleash the trapped bearish momentum and create a new 52-week low in the BTC technical chart. With 1...
