Hey dear friends, on the 12-hour chart, the price action of Bitcoin is retesting the neckline of the inverse Head & Shoulder pattern after breaking it out. If this re-test will be successful then there will be an imminent move to $70K as per the targets of H&S , which is the measurement of head to the neckline.
https://www.tradingview.com/chart/BTCUSD/08Q1WBiX-After-re-test-of-neckline-an-imminent-move-to-70K-is-possible/
Note: the pattern is weak as the inverse H&S works perfectly in a downtrend, this time the price action is completely up-trend. The above idea is for educational purpose only. It is advised to diversify and strictly follow the stop loss, and don't get stuck with the trade.
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