As you can see bitcoin could be setting up an Inverse Head & Shoulders which could potentially bring us to new All time highs! For this Inverse H&S to fully play out we will need to break the neckline at around $36,712. Once this is broken I will be looking to enter a trade which is a really good spot to enter as the pattern will be confirmed. Usually with these patterns when bitcoin breaks out most times you will see it come back to retest this level before going back to new levels.
Bitcoin has dropped about 27% within the past couple of days but as you can see the local bottom has gotten bought up really quick. This shows that the bulls are still here and ready to try and bring this to higher prices.
Bitcoin has dropped about 27% within the past couple of days but as you can see the local bottom has gotten bought up really quick. This shows that the bulls are still here and ready to try and bring this to higher prices.