Bitcoin/TetherLong
BTCUSDT: Inverse head & shoulder pattern confirmed
Hello everyone,
Lets have a quick update on BTCUSDT !!
BTCUSDT currently formed a promising technical pattern that suggests a potential bullish reversal: an inverse head and shoulder pattern. A decisive break above this neckline is typically seen as a confirmation of the pattern's validity which already has occurred. The price has recently retested the neckline, which is a common occurrence before a breakout.
If the price significantly shows bullish move from here then the potential target for this move can be measured by projecting the height of the head above the neckline to the breakout point which is around $ 77K - $ 78k.
Lets have a quick update on BTCUSDT !!
BTCUSDT currently formed a promising technical pattern that suggests a potential bullish reversal: an inverse head and shoulder pattern. A decisive break above this neckline is typically seen as a confirmation of the pattern's validity which already has occurred. The price has recently retested the neckline, which is a common occurrence before a breakout.
If the price significantly shows bullish move from here then the potential target for this move can be measured by projecting the height of the head above the neckline to the breakout point which is around $ 77K - $ 78k.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.