Renowned trader Josh Olszewicz has observed that Bitcoin, the leading cryptocurrency, seems to have developed an inverse head and shoulders pattern.
$BTC iHS watch going into Rocktober pic.twitter.com/GNVESwiY9X
— CarpeNoctom (@CarpeNoctom) September 23, 2025
Bitcoin is currently valued at $112,009, marking a decrease of 3.4% in the last day.
Sought-after bullish formation
This bullish reversal pattern generally emerges after a significant downtrend; however, this isn’t applicable here as Bitcoin has been trading sideways for several months.
The structure typically consists of two shoulders and a head.
The chart provided by Olszewicz illustrates Bitcoin’s price movements from May to November, with particular emphasis on its behavior from November to May.
In late August, Bitcoin reached a low point that might represent the left shoulder on the chart. The dip in mid-September could be seen as the potential head. Currently, its price action might form the right shoulder of this anticipated pattern; nonetheless, it remains uncertain if it is fully established yet.
A breakout above the neckline would confirm this pattern’s presence.
Aiming for $130,000?
If such a breakout occurs, analysts predict an approximate target of $134,000. Key resistance points are identified at $127,000 and $119,000.
Slim chances for record peaks
Bettors on Polymarket estimate only a 2% probability that Bitcoin will soar to reach $125,000 level soon.
At present time ––., there is also about (a&41; 28% likelihood that it will sink to $107, 00.