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@cuphall
Recent Bitcoin price trends have sparked debate about a potential head-and-shoulders top pattern, a classic bearish reversal signal. After surging past $100,000 in late 2024, BTC hit a peak near $108,000 (the "head"), with prior and subsequent highs around $100,000 forming the "shoulders." A neckline near $91,500 connects the troughs. If confirmed by a drop below this level, analysts suggest a correction to $75,000-$80,000 could follow, based on the pattern’s measured move. However, Bitcoin’s recent climb above $102,500 challenges this setup, hinting at a possible pattern failure. Bulls argue fundamentals like institutional buying could override technicals, pushing BTC toward $120,000 instead. While the pattern’s structure is visible, its outcome remains uncertain as of March 11, 2025.
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