BitcoinLong
Bitcoin Inverse head and shoulder pattern
People are talking about the larger head and shoulders in blue that MAY form, but no one is talking about the inverse head and shoulder that just DID form in yellow. I think btc could potentially move up from here to 8200-8350 which is first resistance. If it can break there, then it can retest 9000. Support remains 7500 which has held very strong up to this point. A break below there would be significant and bring 6800-7000 into play as it would complete the head and shoulders. My lean is still up though as the larger head and shoulders is just pure speculation while the inverse head and shoulders actually completed.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.