Bitcoin is still holding above its main support area around $76,000–$76,300, which effectively acts as the setup’s neckline. A decisive four-hour close below this zone would increase the likelihood that the rounded top has completed.
The pattern measures roughly $5,000–$5,300 from its peak to the neckline. Subtracting that distance from a potential breakdown near $76,000 produces a downside target around $70,900–$71,000.
As of Sept. 14, Monday, BTC was trading near $77,870 on the chart, while its four-hour relative strength index (RSI) stood around 54.5, keeping momentum broadly neutral.
Bitcoin was also trading around its 20- (green), 50- (red), and 100-period (purple) exponential moving averages (EMAs), highlighting the ongoing battle between bulls and bears.
A recovery above roughly $79,500–$80,000 would weaken the bearish setup, while a move back above the recent highs would largely invalidate it.