Hey everyone!
If you're enjoying this analysis, a thumbs up and follow would be greatly appreciated!
Bitcoin (BTC) Update:
BTC is forming a bullish inverse head and shoulders pattern on the daily timeframe. The price is currently attempting to break above the neckline, which could signal a significant price increase.
Here's what we're watching:
Confirmed breakout: A clean break and close above the neckline is key for this pattern's validity.
Price target: If the breakout is confirmed, we could see a rally of 20-25%, potentially reaching $85k-$90k.
Let me know your thoughts in the comments below!
If you're enjoying this analysis, a thumbs up and follow would be greatly appreciated!
Bitcoin (BTC) Update:
BTC is forming a bullish inverse head and shoulders pattern on the daily timeframe. The price is currently attempting to break above the neckline, which could signal a significant price increase.
Here's what we're watching:
Confirmed breakout: A clean break and close above the neckline is key for this pattern's validity.
Price target: If the breakout is confirmed, we could see a rally of 20-25%, potentially reaching $85k-$90k.
Let me know your thoughts in the comments below!
Note
We saw a 4.6% rejection recently on BTC. Currently, it is holding support at $68k and a bounce back is likely expected from here.
We will keep you posted according to the market scenario.
Related publications
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.
Related publications
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.