The Bitcoin price chart is now flashing a head and shoulders pattern with quite a clear plan for what could be coming next. Mix in the fact that there is an unfilled Fair Value Gap (FVG) available for the time being, with a high probability of being filled. This makes for a good idea for in the new week. However, there is also the possibility of a crash with resistance mounting that could cause trouble for the cryptocurrency.

Filling The Fair Value Gap At $114,000

Crypto analyst Xanrox that the first Bitcoin Fair Value Gap (FVG) opened up right above $114,000 following the last crash. This gap left a hole for liquidity that could attract more buy-ins to trigger another run. This fair value gap is also sitting above the Head and Shoulders pattern that has formed on the chart.

With the gap still open and more likely to be filled, it suggests that the from here. This would take it all the way up to $114,000, and this is where the real problem comes in. This is because there is a lot of resistance building up above the fair value gap that could be triggered once the liquidity is sucked dry.

Xanrox further explains that many above $114,000, which also adds to the mounting pressure at this level. Thus, whales will use this opportunity to take out all of the liquidity before they start to push the Bitcoin price back down.

Bitcoin Price On The Edge Of A Crash

Once the fair value gap is filled at $114,000, then there is the next phase of the trend, which is more bearish. In the post, the crypto analyst predicts that the . This will be triggered by the lack of liquidity and the completion of the Head and Shoulders pattern.

The crash is expected to go deeper than the current local low from August, plummeting below the support at $108,000. The more than 10% crash after filling the fair value gap is expected to as low as $106,000 .

Xanrox expects all of this to play out this month, citing multiple factors for this. “We may see a huge dump because it’s September and it’s statistically the worst performing month for Bitcoin and also for the stock market,” the analyst stated.