Bitcoin is currently looking to test its Resistance Level / Supply level .
If Bitcoin is able to break above our Inverse H&S neckline we can expect a possible Mid Term target of $8,000 USD for Bitcoin
Our first major resistance level being $7,200 USD.
Stay vigilant traders, we must first break above this structure. A rejection within our Supply Zone is still in the books.
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BTC 4HR: Our Inverse H&S played out. We have been calling this for a while and today we are up with a massive $700 candle. We have broken above our $7,200 USD resistance level currently.
What now? Bitcoin will likely correct into the $6,800 USD previous resistance level and range in between $6,800-$7,200 for a while before we can see $8,000 USD.
Do not forget to take profits into USD and USDT as Bitcoin rises, not when it is dropping!