$FET At present, we need to see a genuine reversal in the highlighted area, which represents our trading trigger.
As long as the price remains below this area, any attempt at a rally is likely to lack momentum and risk being rejected.
Only a recovery and confirmation of the box as support would give us a clear signal that buyers are regaining control, paving the way for a more decisive move towards the higher targets.
A classic Head & Shoulders pattern is taking shape on Bitcoin's higher-timeframe chart, and traders are watching one level more than any other.
Here's why:
• Left Shoulder → First major rejection.
• Head → New cycle high followed by heavy selling.
• Right Shoulder → Lower high, showing weakening momentum.
The key area is the neckline.
In technical analysis, a confirmed break below this zone can indicate that sellers have gained control, while a strong recovery above it can invalidate the bearish setup.
It's important to remember:
A Head & Shoulders pattern is not a guarantee of a deeper decline. It is one of many technical signals traders use alongside volume, macroeconomic data, and market sentiment.
The next move will likely depend on whether buyers can reclaim this critical support zone or if selling pressure continues to build.
Markets often become most volatile when major chart patterns reach their confirmation point.
That's why many traders are closely watching this level before making their next decision.
$WLD has spent more than two years correcting after reaching its all-time high with price gradually losing momentum while the majority of market participants shifted their attention elsewhere What once attracted enormous speculation has now transitioned into one of the quietest structures on the chart a condition that has historically preceded the strongest trends in many crypto assets. From a macro perspective the current setup is becoming increasingly interesting. The decline from the previous ATH has now exceeded 96% effectively resetting market sentiment and removing most of the excess leverage that fueled the initial rally. Deep corrections of this magnitude often mark the beginning of a new accumulation phase rather than the end of a long-term story. As volatility contracts and sellers become exhausted, the market gradually begins transferring supply into stronger hands. The key technical level remains the previous all-time high. As long as price trades below it, the macro trend is still considered incomplete. However, a confirmed breakout above that level would fundamentally change the market structure. Instead of trading inside a prolonged downtrend $WLD would enter price discovery where historical resistance no longer exists and momentum can accelerate significantly. This is exactly why the breakout zone matters so much. Markets typically spend far more time building a base than they do moving vertically. The longer the accumulation lasts, the greater the potential energy that can be released once buyers regain control. Previous crypto cycles have repeatedly demonstrated that assets recovering from deep multi-year corrections often produce some of the strongest percentage moves during the next expansion. That doesn’t guarantee history will repeat itself. Every cycle develops under different macro conditions, liquidity environments and investor behavior. Still, the current structure suggests that $WLD is approaching an inflection point where risk-to-reward may become increasingly attractive if bullish confirmation appears. If buyers successfully reclaim the previous ATH and establish it as support the next macro phase could look dramatically different from the prolonged decline that has defined the last two years. Sometimes the biggest opportunities emerge only after the market has convinced almost everyone that the trend is over.
A reclaim of $69 would be the best potential midterm scenario imo. Revisit the initial post to get the full picutre.
Today: Descending broadening wedge breakout attempt, the 2nd one after May, after a shakeout and failed bearish S/R flip below the key 0.618 fib at $69. ETH also bounced from key support too.