BTCUSDT: Is Bitcoin Building an Inverse Head & Shoulders? 👀
Let’s make this very simple.
The first image shows what an Inverse Head & Shoulders pattern looks like.
Imagine a person standing upside down:
🟢 Left Shoulder
🔻 Head
🟢 Right Shoulder
The head is the deepest drop, while the two shoulders are higher and relatively similar.
The red line is called the neckline. Think of it as a ceiling that price needs to break.
Now look at the second image — my BTC 1H chart.
I’ve marked three areas around the $62K–$62.5K region that resemble:
➡️ Left Shoulder
➡️ Head
➡️ Right Shoulder
After forming this structure, BTC pushed strongly upward.
I’m also watching the Fibonacci levels around 50%, 61.8% and 78.6% as possible areas where price could react.
My bullish scenario is:
Pullback → Support → Continuation → Possible move toward the previous high area around $65K+
But remember:
⚠️ A pattern is NOT a guarantee.
The important confirmation would be whether BTC can successfully break and hold above the relevant resistance/neckline area.
If that confirmation fails, the bullish idea becomes weaker.
So for me, the big question is:
Is BTC completing an inverse head & shoulders, or is this simply another temporary bounce? 🤔
What do you see on the chart? 👇
#BTC #bitcoin #BTCUSDT #Crypto #TechnicalAnalysis
Let’s make this very simple.
The first image shows what an Inverse Head & Shoulders pattern looks like.
Imagine a person standing upside down:
🟢 Left Shoulder
🔻 Head
🟢 Right Shoulder
The head is the deepest drop, while the two shoulders are higher and relatively similar.
The red line is called the neckline. Think of it as a ceiling that price needs to break.
Now look at the second image — my BTC 1H chart.
I’ve marked three areas around the $62K–$62.5K region that resemble:
➡️ Left Shoulder
➡️ Head
➡️ Right Shoulder
After forming this structure, BTC pushed strongly upward.
I’m also watching the Fibonacci levels around 50%, 61.8% and 78.6% as possible areas where price could react.
My bullish scenario is:
Pullback → Support → Continuation → Possible move toward the previous high area around $65K+
But remember:
⚠️ A pattern is NOT a guarantee.
The important confirmation would be whether BTC can successfully break and hold above the relevant resistance/neckline area.
If that confirmation fails, the bullish idea becomes weaker.
So for me, the big question is:
Is BTC completing an inverse head & shoulders, or is this simply another temporary bounce? 🤔
What do you see on the chart? 👇
#BTC #bitcoin #BTCUSDT #Crypto #TechnicalAnalysis