The Massive BTC Head & Shoulder Pattern That Could Point To The Next Big Trend
BTC (BTC) has just formed a textbook inverse Head & Shoulders pattern, signaling the beginning of a potential shift in its market structure. Despite that pushed the cryptocurrency below $70,000, a crypto analyst suggests that the newly formed pattern indicates that a fresh bullish trend could be up ahead.
BTC Head & Shoulder Pattern Indications Value Reversal
In an X post this Thursday, market analyst Crypto Tice that BTC has printed a classic on its chart, renewing the debate over whether the market is on the verge of another historic breakout. He said that this pattern is a textbook structural signal that has formed over an extended period on the weekly timeframe.
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The chart highlights three distinct phases in BTC’s price action, showing how the inverse Head and Shoulder pattern formed. The first stage saw a “Left Shoulder” emerge after an initial rally, followed by a deep decline that shaped the head of the Head and Shoulders pattern. Subsequently, prices climbed again to create a higher “Right Shoulder,” signaling that sellers were losing momentum while bulls were gradually asserting control.
A horizontal line across the previous swing highs on the price chart marks the neckline of the inverse Head and Shoulders pattern, which Crypto Tice highlights as a pivotal level for determining BTC’s next major trend. According to him, BTC is currently retesting this trendline, as a breakout from here could set the stage for a .
Crypto Tice highlighted that the current retest should not be seen as a sign of weakness, but as confirmation that . He said that market sentiment at this stage often wavers among investors and traders. However, historical trends suggest that similar retests have preceded major price expansions.
Crypto Tice noted that the inverse Head and Shoulder pattern is a critical signal that often signals a transition from accumulation to expansion. Historically, allow buying pressure to build, followed by a breakout, a controlled pullback, and finally a retest confirmation.
Head & Shoulder Pattern Point To $215,000 Value Target
Above the neckline of BTC’s Head & Shoulder pattern, Crypto Tice has set a projected target of $215,000 on the chart, indicating where the market could move if BTC breaks out decisively. With the cryptocurrency currently trading above $65,000, this would represent a roughly 231% increase.
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Given the recent market downtrend and BTC’s price breakdown below $70,000, the analyst acknowledged that sounds largely unrealistic. However, he noted that the same perception was held in past cycles before against the odds. Concluding his analysis, Crypto Tice explained that large price trends rarely begin comfortably, noting that they typically emerge amid
