🅱️ Bitcoin Inverse Head & Shoulders Pattern, $42K or $60K Next?

While a rise from $15,500 to $27,800 seems like a lot and a major accomplishment for Bitcoin, this is only the beginning based on a multitude of bullish technical signals.

Feel free to 🚀 Boost/Like 👍 to get started and let's dive in.

✔️ Let's start with the most obvious signal which is the inverse Head & Shoulders pattern.
This signal alone can lead to $60,000+

✔️ It is the first time that Bitcoin trades below MA200 on the weekly timeframe, this happened from June 2022 until this present week. On a close tomorrow above $25,359, Bitcoin is back above MA200 confirming major, long-term bullish potential.

✔️ This week produced the higher purchase volume since June 2021.

✔️ The MACD has gone bullish to the upside for the first time since May 2020.

✔️ The RSI is at its highest level since late 2021 and just recently came out of All-Time Low. Bitcoin always starts a bullish phase after hitting a new multi-year low on the RSI.

All these are major signals as they are coming from the weekly timeframe.

We have a target set of around $42,000, selling at $40K.
We might have to update it to maybe around $46,000 or $60K.

What do you say?

Namaste.

Trade geschlossen: Ziel wurde erreicht:

We have a target set of around $42,000, selling at $40K.
We might have to update it to maybe around $46,000 or $60K.