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Analysts flag rare weekly 'Shark' harmonic pattern
Cryptocurrency analysts are warning that Bitcoin (BTC) could slide toward a $41,000 target after spotting a rare harmonic formation on the weekly chart. The pattern—known in technical analysis as a “Shark”—follows precise Fibonacci ratios and suggests a final leg that could complete near the $41K level before any potential reversal.
What the Shark pattern implies for BTC price action
Analyst Tony Severino highlighted the weekly Shark structure, noting its ABCD harmonic geometry and the key D-point that aligns with the $41,000 area. By definition, harmonic Shark patterns rely on strict Fibonacci extensions and retracement levels; while they often precede reversals, the move toward the D-point typically involves a measurable pullback. For traders and investors tracking Bitcoin price, that means short-term downside risk could be significant before a potential bullish flip.
Alternate scenario: resistance, support, and whale activity
Separately, crypto technician Ted Pillows outlined two possible scenarios hinging on near-term price behavior. If BTC reclaims and holds above a nearby resistance zone, momentum could resume toward higher targets and invalidate a deeper correction. If Bitcoin fails at that resistance, Pillows warns a retreat to support levels is likely — and if those supports break, the path to lower prices would open further.
How traders can approach the $41K thesis
Traders should monitor weekly and daily Fibonacci levels, volume, and order flow—especially large whale transactions on major exchanges like Binance. Risk management is essential: set clear stop-loss levels and size positions to account for volatility around harmonic completion points. A confirmed bullish reversal at the D-point would align with the Shark pattern’s intended outcome, but the interim move could test key support zones and investor conviction.
Conclusion: The weekly Shark pattern places a plausible $41,000 target on Bitcoin’s near-term radar. Whether that target marks the low before a bullish reversal or the start of a deeper correction will depend on how BTC behaves around the highlighted resistance and support ranges and how whales allocate supply in the coming sessions. Keep an eye on Fibonacci confluence, on-chain whale activity, and momentum indicators to gauge the next directional leg for BTC.
Source: crypto
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