Potential Bitcoin Inverse Head & Shoulders On The Hourly

Bitcoin may be forming an inverse H&S on the hourly. This may indicate a reversal into the 8450, 8600, and 8750 areas. We do also have ascending support on the two previous higher lows and the horizontal support at 8120. If Bitcoin continues to hold these supports, we should see a break to the upside with considerable volume. Although because I am bearish on the daily time frame, I do not expect this rally to last, and I expect to be below 8000 within the next week of this happening!

I hope I made good use of your time today!

That will be all for this Bitcoin analysis!

As always friends, I wish you good luck trading!

And thank you for supporting me.

-Trader Demo