This shape warned before the drop

This shape showed up right before the drop.

It's called head and shoulders. Here's how to read it in one minute.

This is a real Bitcoin daily chart. Price climbs and peaks near 79,400. That's the left shoulder.

Then a higher peak, near 82,800. That's the head.

Then a lower peak. The right shoulder. Buyers could not reach the head again.

Now draw the neckline. Connect the two dips between the peaks.

Here, the dips were near 74,850 and 74,200.

Most traders sell at the right shoulder. That's a guess. The pattern isn't done yet.

The rule: act only when a candle closes below the neckline.

Here it is. On May 28, Bitcoin closed at 73,538, under the line.

Sellers act on that close, with a stop above the right shoulder.

About a week later, Bitcoin traded under 60,000.

It won't always fall this hard. But the shape warned you first.

Save this. Three peaks, middle one highest. Right shoulder forming: wait. Close below the neckline: sell, stop above the shoulder.

Your turn. A right shoulder is forming on this Aussie dollar chart. Sell now, wait, or buy? Comment below.

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