BTC inverse head and shoulder pattern
The reliability of a typical inverse head and shoulders pattern is generally high when the neckline trends downward. However, the strong buying pressure observed during the recent decline to 53k has resulted in a very strong rebound up to 66k. This has formed an upward-sloping neckline. I predict that after some consolidation and accumulation before breaking the neckline, there will be a strong breakout, bolstered by positive news such as the ETFs for ETH and SOL.
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.