Bitcoin has a short-term bullish signal setting up. As you can see on the chart there is an inverse head and shoulder visible from a 30 or 60-minute timeframe. The neckline comes in at 7397. With a break of this, I'll be looking for a retest of the recent high of the previous swing (7700). There are Squeezes setting up on both a 30 and 60-minute chart right now:If this plays out, you would typically expect the move to last 4-8 hours based off those shorter time-frames. We're still in a pretty important area for
Bitcoin and the rest of the crypto market. If bulls aren't able to break the downtrend we've been in, I wouldn't be surprised if this run is short lived.
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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.