Odaily Planet Daily News: Analysts at alternative asset management company Valkyrie Investments are closely watching the "Head and Shoulders (H&S)" bearish reversal pattern that has emerged on the daily chart of Bitcoin. Chart analysts believe that this is a signal that the market trend is about to turn from bullish to bearish, and traders usually go short once the price falls below the trendline connecting the first and second wave troughs. Valkyrie analysts, led by Chief Investment Officer Steven McClurg, wrote in a report to clients earlier this week that "high time frame trend indicators remain firmly bullish, and recent (bearish) reversal chart patterns have emerged. Although not in line with conventional standards, Bitcoin's price action since March 19 has depicted an extremely high high, flanked by lower highs." "If the price breaks below the neckline, the recommended target area may be $24,000, based on the depth of the pattern extending below the neckline," the report added. A UTC close below the neckline support level of around $27,300 will confirm that H&S will fall below, opening the door to further declines. (CoinDesk)