Bitcoin has an inverted head and shoulders pattern, and the bull pump is about to start!

Bitcoin may be about to usher in the long-awaited rebound! Why do you say that? Because Bitcoin has now formed an inverted head and shoulders pattern, which is a bullish technical indicator that the price may be about to surge.

Let's talk about this head and shoulders pattern. Market expert Kyle Doops found an inverted head and shoulders pattern on the Bitcoin chart, which made cryptocurrency enthusiasts very excited, and they guessed that the price of BTC is about to surge.

The inverted head and shoulders pattern generally means that the downward trend is about to end. Bitcoin may be preparing to break out of the current price range. According to market experts, BTC and the S&P 500 Index (SPX) have not formed this pattern for more than two years, and this appearance is a good sign for bullishness.

Kyle Doops also said that the development of the right shoulder now shows that Bitcoin has not experienced a real bull market in the past 3 and a half years. Moreover, since 2021, Bitcoin's return rate relative to SPX has not changed much.

Therefore, market experts are quite confident about BTC's short-term and long-term prospects. They expect prices to break through in the fourth quarter of this year, which may trigger a "real bull run" against traditional markets.

In addition, according to the actual price indicator of short-term and long-term holders, Bitcoin prices are about to soar. This indicator shows the average price at which various holders buy and sell BTC, and now market confidence is increasing.

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