Concerns of a Bitcoin (BTC) price crash remain amid its current bearish trend. While the asset has been consolidating within a tight range, recent technical analysis reveals the formation of a bearish head and shoulders pattern on the four-hour timeframe, signaling potential for further decline. 24-hour trading data shows that BTC’s price is currently near $82,500 after experiencing a 1.10% drop in the past day with a significant volume drop (50%). This suggests lower participation from traders and investors amidst heightened market volatility. Despite this bearish outlook, recent historical analysis indicates that if BTC breaches the neckline of the bearish head and shoulders pattern at the $81,500 level, a potential 4% decline to $78,200 is expected in the near future. The asset currently trades below its 200 Exponential Moving Average (EMA) on both daily and four-hour timeframes, indicating a continued downtrend. Traders anticipate shorting BTC after a price increase before dropping rapidly within 24 hours. Additionally, an outflow of $175 million in Bitcoin from exchanges offers potential buying pressure and could trigger a rally. However, this is typically observed during bull runs rather than bearish markets.