TL;DR: This is a textbook Head & Shoulders pattern, but let’s be real—it also resembles something more… anatomical. Regardless of how you see it, the market structure is screaming impending breakdown as we gear up for a possible move toward $125-$130.
1️⃣ The Left Shoulder → Initial rally followed by a pullback, setting the first high.
2️⃣ The Head → A euphoric breakout attempt, swiftly rejected, forming the highest peak.
3️⃣ The Right Shoulder → A weak push upward, failing to reclaim the highs, signaling distribution.
Neckline Break = Confirmation: Price is slicing through key levels, rejecting off moving averages, and forming lower highs.
Target Zone:
Fibonacci extension and previous liquidity pools align around $125-$130, making this the next logical support zone.
Additional Confluence:
- Volume Profile: Decreasing volume on right shoulder = buyers losing steam.
- EMA Rejection: Price struggling below key moving averages.
- Liquidity Grab: Stop hunts above the head indicate smart money distribution.
Final Take:
If this setup plays out, the move down could be swift. While it may look like a “Dick-n-Balls” to the untrained eye, the market only cares about order flow, liquidity, and psychology—all of which suggest a bearish continuation.
Stay sharp, trade smart.