BTC/USD Head and Shoulders Pattern Analysis

١٠ أكتوبر ٢٠٢٤

Bitcoin is forming a Head and Shoulders reversal pattern, signaling potential bearish momentum. If bears hold strong, a break below the neckline could lead to a 60,000 pip drop. This would align with the pattern’s price projection, indicating a deep correction.

However, if the price holds above the neckline, we will consider a buy position, especially if candlestick patterns on lower timeframes confirm bullish momentum.

Bearish Target: 60,000 pips drop.
Bullish Outlook: Long entry if the neckline holds.

Stay alert to price action and key levels for confirmation.

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ملاحظة

price obeyed the neckline and the sentiment remained bullish with a buy trade followed by a manual trailing stop-loss

٢٢ نوفمبر ٢٠٢٤

تم فتح الصفقة

The neckline did hold with a slight false breakout-down (dip below neckline). Candlesticks provided the buy signal (every candle tells a story), and the rest is history as we are heading to 100k.