Bitcoin hit a new all-time high $8,285 on Monday. However it is choppy and has formed a bearish head-and-shoulders intra-day pattern. And that means that when the neck line breaks (as seen in the chart below), a fall will follow down to $8,075. This is a classic chart setup that works on anything from stocks to commodities to currencies. If the neck-line breaks, the target should be reached within hours.