Hello
Bitcoin has made an nice looking inverted head and shoulder pattern. The right shoulder is higher than the left one which tells there is eager buyers, and makes the pattern more bullish
Target is around 60k but ofc we need to break the 50-52k hard resistance area to get there.
Take a note also that the 10EMA (blue) and 25EMA (yellow) has also been flipped to support, as we can see bitcoin bounced from there
For my views of bear trend to change we need to break 53k and close above. If we do that I believe we will go test the highs and eventually make a new All time high. BUT let's not get a head of ourselves
If you do take trades always use stop loss!
Otherwise you will get your ass burned!
-Jebu
Bitcoin has made an nice looking inverted head and shoulder pattern. The right shoulder is higher than the left one which tells there is eager buyers, and makes the pattern more bullish
Target is around 60k but ofc we need to break the 50-52k hard resistance area to get there.
Take a note also that the 10EMA (blue) and 25EMA (yellow) has also been flipped to support, as we can see bitcoin bounced from there
For my views of bear trend to change we need to break 53k and close above. If we do that I believe we will go test the highs and eventually make a new All time high. BUT let's not get a head of ourselves
If you do take trades always use stop loss!
Otherwise you will get your ass burned!
-Jebu
