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Head and Shoulders Pattern Started on Bitcoin Price Chart by chorock

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· @chorock ·
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Head and Shoulders Pattern Started on Bitcoin Price Chart
Head and Shoulders pattern broke down mini suppport line on Bitcoin price chart today. I shared lots of analysis about this possible pattern and It started. It started today after Trump speech.

Here you can see daily chart of Bitcoin. I drew this pattern a few days ago while most of investors were waiting for all time high. Bitcoin price moves how I predicted. The price target of head and shoulders pattern is at 96K. We may see Bitcoin price below 100K in a few days to reach this goal.




![e1.PNG](https://files.peakd.com/file/peakd-hive/chorock/23t75BTc8hidSvyGtBjTAYMbzc1JDXF54syhh78oWGtsWX1kE83VhUc2Xet7ttvXk1gHS.PNG)

Here you can see the indicators on daily chart of Bitcoin. There is big bowl pattern on RSI Indicator. We are going to the bottom of this bowl pattern. So, we may see downtrend during going to the bottom. 
Even Fisher Indicator is on the bottom, It can not reverse up. MACD Indicator may take long time to complete correction.

![e2.PNG](https://files.peakd.com/file/peakd-hive/chorock/23swib13xgW2bySD2EeG7M7YDtwLTfJ4QYMo6qwN6AaMPVWW5AUxx45YWqm2uf83PGTTb.PNG)

Even I am happy to see my analysis worked well, I am not happy to see price drop. But I may be great chance to pick up discounted crypto.

We will see..

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created2025-06-05 20:53:18
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