While the price of Bitcoin has been stagnating for several weeks, technical analysts see the possibility of a bullish reversal. However, the upcoming macroeconomic indicators could significantly influence BTC’s short-term trajectory.
On the 4-hour chart, BTC has formed an inverted head and shoulders pattern, a classic chart pattern suggesting a trend reversal, according to investor Quinten Francois. A close above the neckline of this pattern would validate this bullish signal.
