BTC Technical Analysis: The two most obvious technical signals right now — MACD cyclical bearish divergence and a break below the neckline of the head-and-shoulders pattern. Price hit a new high at 126K, but the MACD bars and DIF are getting lower, forming a triple bearish divergence structure. Momentum exhaustion Uptrend nearing its end About to enter a mid-term correction The price has now solidly broken below the neckline of the head-and-shoulders pattern, dropping into the 95K range. However, there’s no emotional bubble top — sentiment isn’t extreme, so this isn’t the typical crazy peak of a bull market. No massive volume spike — most tops are accompanied by huge distribution volume, but that’s not the case here. No extreme retail FOMO. The technical structure has deteriorated, but the sentiment structure hasn’t shown a typical top yet. This means: It’s very likely not the end of the bull market, but it’s highly likely to be a major mid-term top. BTC is now most likely to push down mid-term to the 88K-93K support zone (purple line area), with 80K-85K as the next major support zone.