Bitcoin's recent surge above $12,000 has sparked a wave of optimism in the crypto community. However, a closer look at the chart reveals a classic head and shoulders pattern forming, signaling a potential reversal. We may see a pullback to retest the neckline around $10,500. Investors should be cautious and consider hedging their positions to avoid potential losses.

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Interesting observation! A head and shoulders pattern can be a strong indicator of a reversal. I'd be cautious and consider adjusting my position size or hedging to minimize potential losses if the price does indeed pull back.