Bitcoin (BTC/USD): Inverse Head & Shoulders Breakout SetupHi!
The chart shows a clear shift in structure after a prolonged downtrend. Price broke the descending trendline that had capped Bitcoin for months, signaling weakening bearish control. Following that break, an inverse head and shoulders pattern formed, with a left shoulder, head, and right shoulder resting on an ascending trendline.
The zone around 100k–102k stands out as the key resistance and measured target of the pattern. Current price action shows higher lows and improving momentum, suggesting buyers are in control as long as price holds above the rising support near the right shoulder.
If Bitcoin maintains this structure and confirms strength above the neckline, a move toward the 102k target is technically justified. However, failure to hold the ascending trendline would weaken the bullish thesis and could trigger another range or pullback.
Overall, the bias remains cautiously bullish, with confirmation dependent on a clean continuation toward the neckline resistance.
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Long
