"Head and Shoulders Breakdown: Bearish Reversal in Play"

This chart appears to depict a Head and Shoulders pattern, a classic bearish reversal formation, signaling a potential downward trend.

Key Description:

1. Pattern Identification:

Left Shoulder: A rise followed by a temporary dip.

Head: A higher peak after the left shoulder.

Right Shoulder: A rise that doesn't surpass the head, followed by a dip.



2. Trendline/Neckline: A support line connecting the lows between the shoulders and the head, signaling where the price could break down.


3. Bearish Breakout:

Price breaks below the neckline, confirming the pattern.

Target (projected move): Typically equals the height from the head to the neckline.



4. Price Levels:

Current level: Around $104,999.66.

Projected target: $95,032.54, as shown by the downward arrow.




This setup suggests a possible significant drop, confirming the bearish signal after breaking the neckline. Ensure risk management while trading this move.