Patel’s chart placed Bitcoin’s all-time high near $124,545, with intermediate resistance at $119,979. The daily candle on TradingView formed a massive red bar, representing a $20,980 (-17.12%) loss, a clear signal of panic selling.
Patel cautioned that losing $108,000 could lead to “a bigger crash.” He wrote, “Strong support at $108,000. If it holds, we could see an upside move, but if it breaks, brace for a bigger crash.” At press time, Bitcoin was trading at $113,193 on Binance, showing a mild recovery but still under strain. Patel urged traders to stay vigilant, saying, “Stay alert; keep your positions in check.”