Head and Shoulders reversal, Bitcoin will usher in a big crash!!
2025-01-12
Category: None

We have special charting tools to highlight famous Head & Shoulders reversal pattern (in yellow).
I spotted this textbook pattern today and would like to share this educational post with you.
It was shaped by three peaks with the highest (Head) in the middle.
The Right Shoulder reached its climax right at the top of the Left Shoulder.
It makes the pattern more symmetric.
There is a Neckline that intersects both valleys of the Head.
Its a reversal pattern and the trigger is located at the Neckline under the Right Shoulder
around 91.7k.
The target is measured subtracting the height of the Head from the trigger point.
It was highlighted in the chart at 75k.
The collapse could be painful.

This might prove the old traders saying "buy rumors (Tramp promises), sell facts (reality)" for Bitcoin.