Bitcoin Tests $72,589 Support as Head-and-Shoulders Risks $60K Retest

Bitcoin slipped to $72,589 on May 29 after failing to hold above $76,000, exposing deeper downside risk toward the $60,000 zone. The decline followed repeated rejections at the 200-day MA near $82,400 and the formation of a head-and-shoulders pattern whose neckline sits around $75,000. Earlier in the period, price had stabilized above $77,000 with double-bottom hopes, but momentum faded as on-chain activity cooled and ETF outflows accelerated, leaving the $73,000–$71,300 band as the final major defense before a potential 15% slide.