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Breaking News: Could Chainlink (LINK) Triple In 5 Years? Why A $20B Market Cap Is Possible

Bitcoin Forms Risky Head-And-Shoulders Pattern, Points To $44K Target

Semilore Faleti
Semilore Faleti
Last Updated: May 23, 2026 11:27 am
2 mins read
Bitcoin

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Bitcoin is experiencing a steady decline, as prices dipped below $60,000 in the past week. The leading cryptocurrency has struggled to sustain upside momentum after multiple rejections at the $82,000 price level over the last month. Meanwhile, analysts remain divided between the potential of a resurgence and the possibility of another extended correction. Market expert Leshka.eth, with X username Leshka.eth, has aligned with the pessimists, sharing a recent analysis projecting a 41% decline in Bitcoin’s price.

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26 EMA Rejection Confirms Brewing Selling Pressure

In an X post on May 22, Leshka.eth shares a bearish price projection for Bitcoin, anchored in the formation of a Head & Shoulders pattern, a negative chart formation that signals a potential reversal of an existing trend, typically from bullish to bearish. It is characterized by three peaks, with the middle peak, i.e., the head, higher than the two surrounding peaks, called the shoulders, while a neckline drawn across the lows between these peaks acts as a key support level.

$BTC printing a H&S on the weekly since 2024

Neckline $68K retested from below, 26 EMA then confirmed the rejection from above

Right shoulder is weaker than the left, which historically means the selling pressure is building

If the pattern completes, measured move targets $44K pic.twitter.com/Kqs0xFTMGO

— Leshka.eth ⛩ (@leshka_eth) May 22, 2026

According to Leshka.eth, the forming H&S pattern on the BTC weekly chart indicates an incoming reversal of the price gains accumulated all through 2024 and 2025. The analyst notes that the chart pattern has recorded two key developments, beginning with a retest of the $68,000 neckline, market intentions to reevaluate this region as a key area for further downside pressure. Furthermore, the Bitcoin price recorded a rebound that was firmly rejected at the 26-period exponential moving average (EMA), indicating that upward momentum is weakening at this dynamic level and adding further weight to the bearish outlook implied by the pattern.

Meanwhile, the right shoulder failed to reach the same height as the left shoulder, suggesting a gradual buildup of selling pressure. All these events point to an impending validation of the H&S formation, which is expected to trigger a major downswing. In this case, Lesksha.eth predicts Bitcoin would crash to around $44,000 in a measured move, aligning with the next significant support below the neckline. While not explicitly stated by the analyst, such a price move could mark the anticipated cycle bottom, needing to kickstart the next market bull run.

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Bitcoin Price Overview

At the time of writing, Bitcoin trades at $75,484, reflecting a 2.66% decline in the past day. Meanwhile, the daily trading volume is up 2.65% to $27.65 billion.

Bitcoin
BTC trading at $75,472 on the daily chart | Source: BTCUSDT chart on Tradingview.com
Featured image from HeroScreen, chart from Tradingview
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Semilore Faleti
Semilore Faleti

Semilore Faleti

Semilore Faleti is a cryptocurrency writer specialized in the field of journalism and content creation. While he started out writing on several subjects, Semilore soon found a knack for cracking down on the complexities and intricacies in the intriguing world of blockchains and cryptocurrency.

Read more

Semilore is drawn to the efficiency of digital assets in terms of storing, and transferring value. He is a staunch advocate for the adoption of cryptocurrency as he believes it can improve the digitalization and transparency of the existing financial systems.

In two years of active crypto writing, Semilore has covered multiple aspects of the digital asset space including blockchains, decentralized finance (DeFi), staking, non-fungible tokens (NFT), regulations and network upgrades among others.

In his early years, Semilore honed his skills as a content writer, curating educational articles that catered to a wide audience. His pieces were particularly valuable for individuals new to the crypto space, offering insightful explanations that demystified the world of digital currencies.

Semilore also curated pieces for veteran crypto users ensuring they were up to date with the latest blockchains, decentralized applications and network updates. This foundation in educational writing has continued to inform his work, ensuring that his current work remains accessible, accurate and informative.

Currently at NewsBTC, Semilore is dedicated to reporting the latest news on cryptocurrency price action, on-chain developments and whale activity. He also covers the latest token analysis and price predictions by top market experts thus providing readers with potentially insightful and actionable information.

Through his meticulous research and engaging writing style, Semilore strives to establish himself as a trusted source in the crypto journalism field to inform and educate his audience on the latest trends and developments in the rapidly evolving world of digital assets.

Outside his work, Semilore possesses other passions like all individuals. He is a big music fan with an interest in almost every genre. He can be described as a “music nomad” always ready to listen to new artists and explore new trends.

Semilore Faleti is also a strong advocate for social justice, preaching fairness, inclusivity, and equity. He actively promotes the engagement of issues centred around systemic inequalities and all forms of discrimination.

He also promotes political participation by all persons at all levels. He believes active contribution to governmental systems and policies is the fastest and most effective way to bring about permanent positive change in any society.

In conclusion, Semilore Faleti exemplifies the convergence of expertise, passion, and advocacy in the world of crypto journalism. He is a rare individual whose work in documenting the evolution of cryptocurrency will remain relevant for years to come.

His dedication to demystifying digital assets and advocating for their adoption, combined with his commitment to social justice and political engagement, positions him as a dynamic and influential voice in the industry.

Whether through his meticulous reporting at NewsBTC or his fervent promotion of fairness and equity, Semilore continues to inform, educate, and inspire his audience, striving for a more transparent and inclusive financial future.

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Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

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Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

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