Certainly❗ Let’s dive into some #BTC☀ technical analysis. 📊🔍
1. Inverted Head-and-Shoulders Pattern:
#bitcoin☀️ ($BTC) is currently forming an inverted head-and-shoulders pattern on the daily chart.
This bullish pattern typically indicates a potential trend reversal from bearish to bullish.
The pattern consists of three parts: a left shoulder, a head, and a right shoulder.
A breakout above the neckline (around $72,000) would confirm the pattern and signal further upside.
2. Key Levels to Watch:
Resistance: $72,000 (neckline)
Support: $65,000 (previous resistance turned support)
3. Momentum Indicators:
Relative Strength Index (RSI): Currently in the neutral zone (around 50). A move above 60 would be bullish.
Moving Average Convergence Divergence (MACD): Bullish crossover on the daily chart.
4. Potential Targets:
If the inverted head-and-shoulders pattern plays out:
Target 1: $83,000 (measured move based on pattern height)
Target 2: $90,000 (psychological level)
Remember, crypto markets can be volatile, so always use proper risk management. 🚀💰
#Btc #BinanceTournament #ETH🔥🔥🔥🔥
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