Bitcoin is experiencing a steady decline, as prices dipped below $60,000 in 
the past week. The leading cryptocurrency has struggled to sustain upside 
momentum after multiple rejections at the $82,000 price level over the last 
month. Meanwhile, analysts remain divided between the potential of a 
resurgence and the possibility of another extended correction. Market expert 
Leshka.eth, with X username Leshka.eth, has aligned with the pessimists, 
sharing a recent analysis projecting a 41% decline in Bitcoin’s price. Related 
Reading: Glassnode Says Bitcoin Options Traders Are Still Positioned For 
Trouble 26 EMA Rejection Confirms Brewing Selling Pressure In an X post on May 
22, Leshka.eth shares a bearish price projection for Bitcoin, anchored in the 
formation of a Head &amp; Shoulders pattern, a negative chart formation that 
signals a potential reversal of an existing trend, typically from bullish to 
bearish. It is characterized by three peaks, with the middle peak, i.e., the 
head, higher than the two surrounding peaks, called the shoulders, while a 
neckline drawn across the lows between these peaks acts as a key support 
level. According to Leshka.eth, the forming H&amp;S pattern on the BTC weekly 
chart indicates an incoming reversal of the price gains accumulated all 
through 2024 and 2025. The analyst notes that the chart pattern has recorded 
two key developments, beginning with a retest of the $68,000 neckline, market 
intentions to reevaluate this region as a key area for further downside 
pressure. Furthermore, the Bitcoin price recorded a rebound that was firmly 
rejected at the 26-period exponential moving average (EMA), indicating that 
upward momentum is weakening at this dynamic level and adding further weight 
to the bearish outlook implied by the pattern. Meanwhile, the right shoulder 
failed to reach the same height as the left shoulder, suggesting a gradual 
buildup of selling pressure. All these events point to an impending validation 
of the H&amp;S formation, which is expected to trigger a major downswing. In this 
case, Lesksha.eth predicts Bitcoin would crash to around $44,000 in a measured 
move, aligning with the next significant support below the neckline. While not 
explicitly stated by the analyst, such a price move could mark the anticipated 
cycle bottom, needing to kickstart the next market bull run. Related Reading: 
Kevin Warsh’s Fed Era Could Change Bitcoin Forever – Here’s The First Signal 
To Watch Bitcoin Price Overview At the time of writing, Bitcoin trades at 
$75,484, reflecting a 2.66% decline in the past day. Meanwhile, the daily 
trading volume is up 2.65% to $27.65 billion. Featured image from HeroScreen, 
chart from Tradingview

Bitcoin is experiencing a steady decline, as prices dipped below $60,000 in the past week. The leading cryptocurrency has struggled to sustain upside momentum after multiple rejections at the $82,000 price level over the last month. Meanwhile, analysts remain divided between the potential of a resurgence and the possibility of another extended correction. Market expert &#8230;

Bitcoin Forms Risky Head-And-Shoulders Pattern, Points To $44K Target

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Bitcoin Forms Risky Head-And-Shoulders Pattern, Points To $44K Target

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