Bitcoin’s price action is currently confined within a widening megaphone pattern, often associated with high volatility and potential breakout scenarios. However, this pattern alone doesn’t guarantee a bullish outcome. A crucial factor missing from the chart is Bitcoin’s ability to reclaim the $112K support level. While some may interpret the broader megaphone structure as suggesting upside movement, the breach of this key level raises concerns about immediate bullish momentum. Historically, this zone has served as a foundation for bullish reversals. If Bitcoin fails to regain its footing at $112K, it could signal continued downward price action despite staying within the megaphone formation.