Bitcoin this week will pump above 67K or strong dump will cook

Aug 9

This week, Bitcoin will either pump above 67K or experience a strong dump. The reason is that 67K is a major resistance zone and also aligns with the neckline of an inverse Head and Shoulders pattern. If this resistance holds, the market may range or dump. If a breakout to the upside occurs and the right shoulder completes, a rally toward 80K is expected.
Let’s break down what is happening on the Bitcoin chart this week. Price is approaching a critical level at 67K, and how it reacts here will determine the next major move.

Learn this: 67K is not just a random number. It is a strong resistance zone that has rejected price multiple times in the past. It is also the neckline of an inverse Head and Shoulders pattern that is currently forming. When a key resistance level aligns with a pattern neckline, that zone becomes even more significant. A break or rejection there will likely lead to a strong move.

If price fails to break above 67K and gets rejected, the market could enter a boring range or even dump lower. That means the resistance remains valid, and sellers are still in control.

However, if Bitcoin manages to break above 67K with strong volume, that would complete the inverse Head and Shoulders pattern. The right shoulder would be confirmed, and the measured move from the pattern would project price toward 80K.

Learn this: An inverse Head and Shoulders is a bullish reversal pattern. When price breaks above the neckline, it signals that the downtrend is over and a new uptrend is beginning. The target is calculated by measuring the distance from the head to the neckline and projecting that same distance upward from the breakout point.

Aug 13

Trade active

Still no path is clear yet but as i said this week this scenario of Head & Shoulders will fail or neckline will break to the upside we should wait for next candles which are now very important for $BTCUSDT.

Also if this week price remain in range zone here and no breakout to the upside or downside happen then again chart pattern will get messy and we need update on technical chart.
type in comment what you are thinking?

Aug 19

Trade closed: target reached

Price broke the resistance zone and neckline resistance soon massive pump can lead if this daily close green that can close green because volume is also high as we expected after breakout :