Bitcoin’s Potential 'Head and Shoulders' Pattern Points to a Sell-Off to $75K: Godbole

Description

After rallying over 50% since early November, bitcoin ( BTC ), the leading cryptocurrency by market value, looks to be carving out a pattern. If completed, this could see prices revisit the mid-$70Ks. BTC’s price action since late November has evolved into what technical analysts call a “head and shoulders” (H&S) pattern, which foreshadows a bullish-to-bearish trend change. The first failed attempt to scale the $100,000 mark in November marked the first shoulder. That was followed by the head, m...