Inverse head and shoulders pattern spotted on the $BTC chart. Not the most beautiful iH&S I've ever seen, but I'll take it. Different ways to draw the neckline too, but this way makes the most sense to me. Break the neckline for further price recovery!â
Quinten Francois
Bitcoin has nearly reset some key technical indicators, including the moving average convergence/divergence (MACD), an indicator used to gauge changes in the strength and direction of an asset. This could mean more upward momentum according to pseudonymous crypto analyst Jelle, who wrote in a May 13 X post:
âBitcoin has nearly completed a full reset. Back to the 100-day EMA, a bullish MACD cross (below the zero line) -- and the first higher low in a long time. It's looking good.â
