🔥 Bitcoin Inverted Head & Shoulders: Bullish Signal
Recently, I made an analysis on BTC's recent price action and things to come.
In the analysis above I'm talking about the upper trend line which acts as resistance. If we look closer, we can see an inverted head & shoulders pattern emerge.
Head & shoulders patterns are classical reversal patterns. If the pattern holds, we can expect some nice bullish price action after BTC manages to break through the neck-line.
Targets remain the same as in my prior BTC analysis, 53k and 63k.
Happy trading!
In the analysis above I'm talking about the upper trend line which acts as resistance. If we look closer, we can see an inverted head & shoulders pattern emerge.
Head & shoulders patterns are classical reversal patterns. If the pattern holds, we can expect some nice bullish price action after BTC manages to break through the neck-line.
Targets remain the same as in my prior BTC analysis, 53k and 63k.
Happy trading!
Comment:
* the neck-line is drawn from the daily close on April 12th. Same line as in the prior btc analysis.
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