Bitcoin Macro Head & Shoulders - Right Shoulder Then DropBitcoin / US DollarCOINBASE:BTCUSDBrettFogleIn similar fashion to the 2021 H&S that preceded the BEAR Market... Bitcoin is now forming the Right Shoulder of a new Head & Shoulders pattern as we can see in this Monthly chart. Also in this chart down below, the monthly MACD has crossed over and into Bearish territory, just like we used to confirm the last market cycle cop in January 2021. On the daily chart, Bitcoin has been forming a Bear Flag pattern, so this recent push up to test the $98k - $100k range, is likely the final push, before heading lower. Using any 'order block detector' you can also see heavy seller pressure (limit orders) there. So the most likely near-term scenario is for Bitcoin to hang around this zone, while select altcoins rally a bit, then drop down into the Bear Flag channel, and ultimely fail. The measured move for the Bear Flag is right at $74k-$75k, which is a likely strong support. Or we could see a deeper drop, based on the measured move from the H&S pattern which is pointing to around $62k which many others are calling for. Remembering past Bull markets, Bitcoin has retraced 50% which would be $62k from the recent ATH of $126k. Today also, Coinbase withdrew from the Clarity Act, signalling that may not be signed in 2026. War Fears, Economic Fears, Credit Fears, Currency Devaluation, and Liquidity issues all point to a recessionary deflationary period before markets likely recover later this year. ATH is still possible by Q3 / Q4 once regulatory clarity, liquidity, and QE start in earnest. Should be an interesting year!