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Bitcoin started to fall today, and that is nothing special. It gained its price from around 1100$ up to around 1860$ in less than a month.  If you look at bitcoin chart, you can see typical "head and shoulders" from 10.5. up until today, 12.5. 

What is the meaning of it?

The head-and-shoulders chart pattern is a popular and easy-to-spot pattern - once a trader is aware of what they are watching for. The pattern appears on all times frames and can therefore be used by day and swing traders as well as investors. Entry levels, stop levels and price targets make the formation easy to implement as the chart pattern provides important and easy-to-see levels.

Head-and-Shoulders:
-Seen at market tops.
-Formation of the pattern:
-Left shoulder: Price rise followed by a left price peak, followed by a decline.
-Head: Price rise again forming a higher peak.
-Right shoulder: A decline occurs once again, followed by a rise forming the right peak which is lower than the head.
-Formations are rarely perfect, which means there may be some noise between the respective shoulders and head.
 
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Why the Head-and-Shoulders Pattern Works?
No pattern is perfect, nor does it work every time. Yet there are several reasons why the chart pattern theoretically works (the market top will be used for this reasoning, but it applies to both):

As price falls from the market high (head), sellers have begun to enter the market and there is less aggressive buying.
As the neckline is approached, many people who bought in the final wave higher or bought on the rally in the right shoulder are now proven wrong and facing large losses – it is this large group which now will exit positions driving the price towards the profit target.
The stop above the right shoulder is logical because the trend has shifted downwards – the right shoulder is a lower high than the head - and therefore the right shoulder is unlikely to be broken until an uptrend resumes.
The profit target assumes that those who are wrong or purchased the security at a poor time will be forced to exit their positions, thus creating a reversal of similar magnitude to the topping pattern which just occurred.
The neckline is the point at which many traders are experiencing pain and will be forced to exit positions, thus pushing the price towards the price target.
Volume can be watched as well. During inverse head and shoulder patterns (market bottoms), we would ideally like the volume to expand as a breakout occurs. This shows increased buying interest that will move price towards the target. Decreasing volume shows lack of interest in the upside move and warrants some skepticism.