🅱️ Bitcoin Inverse Head & Shoulders Pattern, $42K or $60K Next?
Updated
While a rise from $15,500 to $27,800 seems like a lot and a major accomplishment for Bitcoin, this is only the beginning based on a multitude of bullish technical signals.
Feel free to 🚀 Boost/Like 👍 to get started and let's dive in.
✔️ Let's start with the most obvious signal which is the inverse Head & Shoulders pattern.
This signal alone can lead to $60,000+
✔️ It is the first time that Bitcoin trades below MA200 on the weekly timeframe, this happened from June 2022 until this present week. On a close tomorrow above $25,359, Bitcoin is back above MA200 confirming major, long-term bullish potential.
✔️ This week produced the higher purchase volume since June 2021.
✔️ The MACD has gone bullish to the upside for the first time since May 2020.
✔️ The RSI is at its highest level since late 2021 and just recently came out of All-Time Low. Bitcoin always starts a bullish phase after hitting a new multi-year low on the RSI.
All these are major signals as they are coming from the weekly timeframe.
We have a target set of around $42,000, selling at 40K.
We might have to update it to maybe around $46,000 or 60K.
What do you say?
Namaste.
Feel free to 🚀 Boost/Like 👍 to get started and let's dive in.
✔️ Let's start with the most obvious signal which is the inverse Head & Shoulders pattern.
This signal alone can lead to $60,000+
✔️ It is the first time that Bitcoin trades below MA200 on the weekly timeframe, this happened from June 2022 until this present week. On a close tomorrow above $25,359, Bitcoin is back above MA200 confirming major, long-term bullish potential.
✔️ This week produced the higher purchase volume since June 2021.
✔️ The MACD has gone bullish to the upside for the first time since May 2020.
✔️ The RSI is at its highest level since late 2021 and just recently came out of All-Time Low. Bitcoin always starts a bullish phase after hitting a new multi-year low on the RSI.
All these are major signals as they are coming from the weekly timeframe.
We have a target set of around $42,000, selling at 40K.
We might have to update it to maybe around $46,000 or 60K.
What do you say?
Namaste.
Trade closed: target reached
We have a target set of around $42,000, selling at 40K.
We might have to update it to maybe around $46,000 or 60K.
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🔥 PREMIUM Trade-Numbers (6-In-1 Offer Now Live!)
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🚨 Free PREMIUM Trade-Numbers
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