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Bitcoin’s extended inverse head-and-shoulders pattern increases the potential for a significant trend reversal.
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Institutional interest in long-term patterns may fuel sustained Bitcoin price momentum.
Bitcoin has been trading differently for the past few months after a significant sell-off in 2022. However, some analysts are hoping that Bitcoin is primed for a potential bullish breakout in the near future. One of those sharing a bullish outlook is technical analyst Jason Pizzino.
Pizzino sees Bitcoin forming an inverse head-and-shoulders pattern on the weekly chart, which is considered a bullish reversal indicator. This pattern suggests that Bitcoin could be gearing up for substantial gains if validated with a break above the neckline.
The Inverse Head-and-Shoulders Pattern
The inverse head-and-shoulders is a classic reversal pattern used widely in technical analysis. It is formed after a sustained downtrend and indicates a potential trend rev
We współpracy z: https://www.thecoinrepublic.com/2023/10/02/jason-pizzinos-analysis-potential-upside-move-for-bitcoin-btc/
