Technical analysis by ForexCollege about Symbol BTC: Sell recommendation (10/10/2024)

Bitcoin is forming a Head and Shoulders reversal pattern, signaling potential bearish momentum. If bears hold strong, a break below the neckline could lead to a 60,000 pip drop. This would align with the pattern’s price projection, indicating a deep correction.However, if the price holds above the neckline, we will consider a buy position, especially if candlestick patterns on lower timeframes confirm bullish momentum.Bearish Target: 60,000 pips drop.Bullish Outlook: Long entry if the neckline holds.Stay alert to price action and key levels for confirmation.price obeyed the neckline and the sentiment remained bullish with a buy trade followed by a manual trailing stop-loss