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May 26, 2021 7:44 AM

BTCUSD: Inverse H&S on 1H 

Bitcoin / DollarBitfinex

Description

BTCUSD broke out of its decending channel and retested successfully. At the same time, it looks like BTCUSD is finishing an inverse head and shoulder pattern and the retest formed the right shoulder. If validated it could mean around 25% gains from neckline. However, immediate resistance between 41.8-42.5k ahead.

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