Golden Finance reported that Omkar Godbole, a technical analyst from the CoinDesk market team, stated that since late November 2024, the trend of $BTC has evolved into a 'head and shoulders' (H&S) pattern, a technical indicator, indicating that the bearish trend will shift to bullish.Analysts say that the first attempt to break through the $100,000 mark in November signaled the formation of the first shoulder. This was followed by the head formation, with the historical high of over $108,000 in the second half of December quickly falling back to $92,000. At the same time, a 5% drop to nearly $97,000 suggests the formation of the right shoulder. If the sell-off continues and the price falls below the neckline (the horizontal trend line connecting the bottoms of the two shoulders), a bearish head and shoulders reversal pattern will be confirmed, and breaking below this level may indicate a further decline to around.
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