As you can see, Bitcoin last night had a positive upward jump. Resistance in the range of $ 58,500 to $ 58,600 is currently broken. Given that we are on the weekend, if the price of Bitcoin stays above this range today and tomorrow, and does not experience a fall again, it is more likely to move towards its next resistance.
During this time, an inverted head and shoulder pattern is forming on the chart. The green support line can help Bitcoin price rise as long as it is not broken down. A red dynamic line is also drawn on the diagram. Given the good reactions it has had so far, this line can be used as a pattern neckline.
If this line is broken, the pattern is approved. The target of the template can be in the range of $ 65,000. Of course, there is a resistance in the range of 35,500 along the way. Which is the first target of bitcoin.
But in the second case, given that the green trend line overlaps with the blue static line, if the price of these two supports breaks down, the price between the coins can continue to fall again to the bottom of the downtrend channel, which of course is the bottom of the channel. This time it will be a little lower than the previous floor.
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During this time, an inverted head and shoulder pattern is forming on the chart. The green support line can help Bitcoin price rise as long as it is not broken down. A red dynamic line is also drawn on the diagram. Given the good reactions it has had so far, this line can be used as a pattern neckline.
If this line is broken, the pattern is approved. The target of the template can be in the range of $ 65,000. Of course, there is a resistance in the range of 35,500 along the way. Which is the first target of bitcoin.
But in the second case, given that the green trend line overlaps with the blue static line, if the price of these two supports breaks down, the price between the coins can continue to fall again to the bottom of the downtrend channel, which of course is the bottom of the channel. This time it will be a little lower than the previous floor.
More about this source text
zoomarz.com