BitcoinLong
Bitcoin could reach $17k in a month
Sometimes inverting a chart helps to see patterns more clearly.
I've inverted the BTCUSD daily chart, and the head-and-shoulders pattern becomes more visible.
Does this chart look bearish? Indeed it does, which is bullish for bitcoin.
The neckline is at 12k. A sustained break above this level has a target price of 17k.
It would likely take a month for this pattern to play out, which is around May 1st.
On the downside, we'll want to continue watching the 9k level which is the top of each shoulder.
I've inverted the BTCUSD daily chart, and the head-and-shoulders pattern becomes more visible.
Does this chart look bearish? Indeed it does, which is bullish for bitcoin.
The neckline is at 12k. A sustained break above this level has a target price of 17k.
It would likely take a month for this pattern to play out, which is around May 1st.
On the downside, we'll want to continue watching the 9k level which is the top of each shoulder.
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