CCT - Crypto Currency Tracker logo CCT - Crypto Currency Tracker logo
CryptoIntelligence 2024-05-07 12:50:53

Bullish Momentum Looms: Bitcoin’s Price Eyeing Upsurge on Inverse Head-and-Shoulders Confirmation

Bitcoin’s price might witness a bullish reversal, igniting what one crypto trader calls the “next leg up,” should the inverse head-and-shoulders pattern, a well-regarded trading indicator, come into play. Matthew Hyland, a crypto trader, shared his insights on May 4, suggesting that if Bitcoin doesn’t break through $67.5k directly, a scenario unfolding over the next month aligns with a potential bottom pattern reversal. The inverse head-and-shoulders pattern, which he referenced, indicates a shift from a downtrend to a bullish phase, signaling increased buyer dominance. “It would be a great setup to propel the next leg up,” Hyland asserted. While maintaining

Read the Disclaimer : All content provided herein our website, hyperlinked sites, associated applications, forums, blogs, social media accounts and other platforms (“Site”) is for your general information only, procured from third party sources. We make no warranties of any kind in relation to our content, including but not limited to accuracy and updatedness. No part of the content that we provide constitutes financial advice, legal advice or any other form of advice meant for your specific reliance for any purpose. Any use or reliance on our content is solely at your own risk and discretion. You should conduct your own research, review, analyse and verify our content before relying on them. Trading is a highly risky activity that can lead to major losses, please therefore consult your financial advisor before making any decision. No content on our Site is meant to be a solicitation or offer.