Don’t look at how Bitcoin has been trading sideways lately and making everyone bored—the K-line chart is quietly brewing something big 💡 Technical analysts have found that on BTC’s daily chart, a classic "inverted head and shoulders" bullish pattern is forming: the low near $60,000 in early June forms the left shoulder, the deep dip at $57.7k in late June/early July is the head, and the recent rebound low formed from $62.5k is the right shoulder. The three troughs are getting shallower each time—this is the classic signal of selling pressure exhausting itself, and also the prelude to a trend reversal.

By connecting the two swing highs, you get the neckline, which is currently around $66.8k. Once the price breaks out with volume and holds above this line, the pattern is confirmed. Based on the pattern’s depth, the target price points straight to $76k 📈 Chart pattern expert Bulkowski’s data shows that an inverted head and shoulders is a highly reliable reversal pattern, with a 71% probability of reaching the measured target. It often retests the neckline first before rallying, giving you a chance to get in.

But note, the pattern hasn’t been fully confirmed yet. For now, it can only be considered “in progress,” not something to heavily bet on as “completed.” Be patient and wait for the signals to become more stable. Also, the probability of the Clarity Act passing this year is getting lower and lower—there’s still a headwind on the policy front, and short-term volatility may increase. Keep a close watch on the 50-day moving average at $66,800. If the price breaks down below it on increased volume, the formation could quickly fail. $66,800 is the key line in the sand: stay cautious before the breakout; after the breakout, don’t hesitate—enter in batches for a steadier approach. Want to know the breakout signal first? 🚀 Click the profile picture to get more information.