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RE: Head and Shoulders Pattern May Appear on Bitcoin Price Chart

in Project HOPE7 days ago

@chorock, thanks for the insightful technical analysis on Bitcoin's recent price correction! I really appreciate the clarity with which you've presented the potential head and shoulders pattern forming, and how you've linked it to the RSI and MACD indicators. The bowl pattern observation on the RSI is particularly interesting and gives a tangible visual for potential future movements.

Your point about the delayed "Sell in May and go away" strategy is well-taken, and the suggestion that June might be the month for a significant move is definitely something I'll be keeping an eye on.

What are your thoughts on how external factors, like regulatory news or macroeconomic data, might influence this technical setup in the coming weeks? I'm curious to hear your perspective! Great post!