A Known Bullish Formation Has Been Seen in Bitcoin: If This Level Is Broken, ATH May Come!

Cryptocurrency analyst Quinten Francois announced that he would buy Bitcoin (BTC) and pointed out a remarkable formation.

In his May 13 post, Quinten Francois highlighted a technical indicator that is important for Bitcoin. Focusing on the 4-hour Bitcoin chart in his analysis, Quinten drew attention to an obvious Inverted Head-and-Shoulders (TOBO) formation.

Stating that this pattern indicates a possible rise, the analyst said that even if TOBO does not have a perfect outlook, he will increase his Bitcoin investments.

He stated that Bitcoin must exceed the neckline at $63,900 in order to see a further and stronger recovery in prices, and included the following statements in the details of his statement:

TOBO pattern was seen on the Bitcoin chart. It's not the prettiest TOBO I've ever seen, but I'll buy it anyway. There are different ways to draw the neckline, but this is the way that makes the most sense to me. We must break the neckline for further price recovery!