which one first? $BTC $200k or $96k?

Here is my analysis

🧠 Bitcoin Daily Chart Analysis – June 6, 2025

What we’re seeing here is a textbook Head and Shoulders pattern — a classic reversal signal in technical analysis.

Left Shoulder: Formed in late April with a push to ~$107K.

Head: Price peaked near ~$113K in early May, marking the cycle high.

Right Shoulder: A lower high around ~$106K, showing weakening bullish momentum.

Neckline: Clearly broken around ~$103K, confirming the pattern.

📉 The break below the neckline, especially with strong bearish candles and price now trading under the 20 EMA, suggests further downside.

🔻 Target Projection: If we measure from the top of the head ($113K) to the neckline ($103K), that’s a ~$10K range. Applying that below the neckline gives us a potential downside target of ~$93K.

This is a high-risk zone for longs. Unless bulls reclaim the neckline soon, the structure favors a deeper correction. Watch for any fake-outs, but for now: trend looks tired, and bears smell blood.$BTC