Bitcoin is showing a completed head and shoulders top with a neckline at $40,000 and a head at $69,000. Typically, a “head and shoulder top” declines the distance between the head and the neckline, which would be $11,000 in our case.The problem is that the latest head and shoulders top is actually the second peak of a monster double top, which gets completed on a decline below $28,000. If $28,000 gets violated as support, which I think it will, chances are we will see bitcoin trade under $10,000 in 2022.I think the stock market is panicking due to Fed uncertainty, and it is entirely possible that the Fed won’t be as aggressive as the stock market fears, if inflation subsides in the latter part of 2022 because of fewer effects after the loosening of bottlenecks.
