July 3, Bitcoin prices have experienced a significant decline immediately after rising rapidly and hit a strong resistance. It seems that the trader once again doubts about the previous downtrend and decided to take profit or cut losses. It is likely that the decline of the fifth Elliott wave is weakening with the formation of a head and shoullder pattern - often a reversal indicator. In the short term, prices are likely to continue to slide down to form the right shoulder before the fleets gather enough strength to push the Bitcoin price up the neckline and the price reverses.