Analysis is to boldly hypothesize and carefully verify!

If Bitcoin fails to hold the 100,000 level again after this adjustment, then the adjustment space below is not just 98,000.

Let's make a bold hypothesis. The premise is that Bitcoin's bull market continues, and Bitcoin will definitely reach a new high in the coming time this year.

However, before Bitcoin sets a new historical high, the trend of Bitcoin from November last year to now may be forming a complex long-term head-and-shoulders bottom pattern, with the neck line of the head-and-shoulders bottom at 89,000. According to the principle of symmetry in patterns, the adjustment space of the complex right shoulder will not fall below 89,000 and cannot be lower than the lowest point of the complex left shoulder at 89,256.

It is noted that below the left shoulder of this head-and-shoulders bottom pattern at 92,500, there is a long lower shadow represented in the daily candlestick cycle, so the lowest point of the right shoulder's adjustment will at most just dip below 92,500 and stabilize, forming a converging triangle for the entire right shoulder, ultimately setting a new high.

In terms of time cycles, the time cycle of the left shoulder spans 3 months (from late November 2024 to late February 2025). According to the symmetry of the head-and-shoulders bottom, the right shoulder starts from April 22, and the longest time would be by the end of July. Under normal circumstances, the time cycle of the right shoulder will be slightly shorter than that of the left shoulder, thus Bitcoin is most likely to reach a new high in early to mid-July, or at the latest by late July, as per the hypothetical chart (for reference only).