BTC faced the same situation for most of last week as the previous week, that is, it continued to be in the contradiction of the simultaneous strengthening of the US dollar and US stocks.However, as the United States reached a temporary debt ceiling agreement, the power to support the price of BTC gained an overwhelming advantage, boosting the price of the currency to rebound sharply.Technically, after two weeks of tug-of-war, the top of the head and shoulders finally failed, and Bitcoin may instead point to the 30,000 .
Technical analysis of the trend of BTC: The top of the head and shoulders completely failed, or there is a chance to rise to the 30,000
The daily chart shows that after BTC hovered below the neck line of the potential head and shoulder peak for more than two weeks, it finally broke through the shock range (26000-27500) and returned to the top of the neck line, marking the complete failure of the head and shoulder pattern.
The failure of this bearish pattern often means that the price will usher in a reversal of large fluctuations, which may strengthen significantly, so BTC may continue Sunday's strong rebound and rise to the levels of 29,000 and 30,000.
If it falls back, the vicinity of 27500 has been transformed into solid support, which will limit the space and risk of falling back.However, if there is an effective break below this support, the current bullish outlook may fail.
The previous thinking continues to be maintained. At the same time, every point of view we hold needs to be based on the actual situation. If the specific situation is unclear, we can continue to discuss channels.
Technical analysis of the trend of BTC: The top of the head and shoulders completely failed, or there is a chance to rise to the 30,000
The daily chart shows that after BTC hovered below the neck line of the potential head and shoulder peak for more than two weeks, it finally broke through the shock range (26000-27500) and returned to the top of the neck line, marking the complete failure of the head and shoulder pattern.
The failure of this bearish pattern often means that the price will usher in a reversal of large fluctuations, which may strengthen significantly, so BTC may continue Sunday's strong rebound and rise to the levels of 29,000 and 30,000.
If it falls back, the vicinity of 27500 has been transformed into solid support, which will limit the space and risk of falling back.However, if there is an effective break below this support, the current bullish outlook may fail.
The previous thinking continues to be maintained. At the same time, every point of view we hold needs to be based on the actual situation. If the specific situation is unclear, we can continue to discuss channels.
