BTC:POTENTIAL INVERSE HEAD AND SHOULDER FORMATION!!

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Bitcoin (BTC) Update:

BTC is forming a bullish inverse head and shoulders pattern on the daily timeframe. The price is currently attempting to break above the neckline, which could signal a significant price increase.

Here's what we're watching:

Confirmed breakout: A clean break and close above the neckline is key for this pattern's validity.

Price target: If the breakout is confirmed, we could see a rally of 20-25%, potentially reaching $85k-$90k.

Let me know your thoughts in the comments below!

Kommentar:

We saw a 4.6% rejection recently on BTC. Currently, it is holding support at $68k and a bounce back is likely expected from here.

We will keep you posted according to the market scenario.