BTC/USD
The major trend in Bitcoin is down while the short-term trend is indecisive. It has broken down of the 20-day EMA and the RSI has dipped back below 50. This shows that the bears are trying to resume the downtrend.
However, the bulls are not relenting and are currently attempting to climb above the 20-day EMA once again. If successful, it will form the right shoulder of the inverse head and shoulders pattern.
The bullish inverse head and shoulders is a reversal pattern, which will complete on a breakout of the neckline. The breakout has a pattern target of $5,500.
However, the bulls are not relenting and are currently attempting to climb above the 20-day EMA once again. If successful, it will form the right shoulder of the inverse head and shoulders pattern.
The bullish inverse head and shoulders is a reversal pattern, which will complete on a breakout of the neckline. The breakout has a pattern target of $5,500.
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