A break from here and we can expect a possible print of a Inverse Head and Shoulders structure.
A confirmation of this pattern will lead Bitcoin towards the $6,700 USD range as well as a possible target of $7,000.
If BItcoin fails to uphold both support levels it is highly likely we will re-test our lows within the $6,000-$6,100 range before we can assume a leg down into the $5,500 USD range.
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Remember this is our Bull Scenario
Analysis is going well, now we wait to see if our Right Shoulder forms.
We must break our neckline to confirm a push towards $7,200
Our longs are currently closed for a $500 USD profit