The Head and Shoulders technical pattern has just formed on the Bitcoin price chart, signaling that a possible crash may be imminent. According to a crypto analyst, this classic bearish reversal formation could trigger a sharp pullback, potentially driving Bitcoin down to $95,000 in the near term.
Analyst Warns Of Looming Bitcoin Price Crash
Crypto Patel, a technical and fundamental analyst on X (formerly Twitter), has issued a stark warning about Bitcoin’s short-term price outlook. Despite the flagship cryptocurrency reaching fresh all-time highs recently and outperforming most altcoins in the market, Crypto Patel still believes that BTC could be on the verge of a significant price crash.
His bearish forecast centers around the appearance of a Head and Shoulders pattern on the 3-hour Bitcoin price chart—a technical formation often considered a strong indicator of trend reversals. According to Crypto Patel, this pattern is already in motion and signals a potential breakdown that could drag the BTC price down to $95,000 in the coming sessions.
At the time of writing, Bitcoin is trading at $105,409, meaning a possible drop to $95,000 would represent a massive 9.87% price crash. Crypto Patel also highlights that this looming decline hinges on one crucial level: the neckline of the Head and Shoulders pattern, currently located at $103,000. This neckline acts as a critical support level, separating the current consolidation phase from a possible bearish spiral.
Should Bitcoin break below this neckline, it could open the door to aggressive sell pressure. Crypto Patel’s technical projections further confirm that failing to hold the neckline support area will solidify Bitcoin’s likely breakdown to the $95,000 zone, marking an 8.74% decline from $103,000.
Bitcoin could also crash even lower than the initial $95,000 target. Crypto Patel’s chart highlights a possible decline between $94,600 and $93,600 for the flagship cryptocurrency. This zone is also expected to serve as a lower support area for BTC to prevent further price declines.
Support Zone Could Offer Buy-Dip Opportunity
Despite the bearish implications and a possible increase in sell pressure, all eyes are on the strong support zone just below $95,000, which Crypto Patel suggests could attract significant buying interest. The analyst warns that this breakdown zone may be a battleground for short-term bears and long-term bulls.
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If the price falls to this level, the analyst notes that it could serve as a strong buy-the-dip opportunity for long-term investors, especially those awaiting a more favorable entry point after Bitcoin’s recent ATH rise near $112,000. Given this outlook, market participants are expected to keep a close watch on the $103,000 neckline as a potential breakdown point and the support zone below $95,000 for an optimal buying opportunity.
