BTC Forming a Massive Head & Shoulders - Macro Reversal Ahead?

Bitcoin is forming a large Head & Shoulders pattern on the 3-day chart, with the left shoulder and head already completed, and the right shoulder now developing within the major resistance zone around the 0.5–0.618 retracement (103,000–108,000).

Price recently bounced from the long-term ascending trendline, but the overall structure still suggests a potential macro reversal unless Bitcoin breaks above the resistance zone with strong momentum.

If the right shoulder completes and price rejects from the supply zone, BTC could retest the trendline again. A breakdown of this trendline may open the door for a deeper correction toward the lower demand zones.

This is a medium-term pattern and may take 1–3 months to validate fully.

Key Points:

- Left Shoulder, Head, and Right Shoulder zone highlighted
- Major resistance at $103,000–$108,000
- Price bouncing from long-term ascending trendline
- Breakdown below the trendline may trigger a strong downside move
- Right shoulder formation may take a few more weeks

Cheers
Hexa