$BTC Bitcoin appears to be forming a potential head and shoulders pattern, a classic technical analysis formation that often signals a trend reversal. This pattern consists of three peaks: a higher central peak (the head) between two lower highs (the shoulders), with a neckline acting as support. If Bitcoin breaks below the neckline with strong volume, it could indicate a bearish shift and suggest a downward move. Traders watch this closely, as confirmation of the pattern could lead to increased selling pressure.