Bitcoin (BTC) Formed Another Bear Killer Pattern


Hi friends hope you are well, and welcome to the new update on Bitcoin.

 

Short-term support and resistance levels:

On an hourly time frame, Bitcoin has broken out $20800 resistance and reached the next resistance of $21360. If BTC gets rejected by next resistance then this time $20800 can work as strong support because previously this level has been working as strong resistance and support.

TradingView Chart

 

Inverse Head & Shoulder:

On a 4-hourly time frame, Bitcoin has formed an inverse Head & Shoulder pattern. This is a bullish biased pattern and in most of the cases priceline breaks out the resistance of inverse Head & Shoulder. If Bitcoin breaks out this pattern then the next move can be upto $27k.

TradingView Chart

 

For a detailed analysis, you can watch the video.


 

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