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Another opportunity for the "Pattern hunters"
At this point in February, some are those who have observed a nice pattern forming in the vicinity of $42,000 lately.
BITCOIN seems to have broken its trend by breaking out of the bearish channel in recent days.
It is not that we have a large volume to be happy about but it seems that, despite the bad omens we have with the more than possible increase in interest rates and the conflict in Ukraine, the crypto market is not as related to stocks as looked like.
Both are on the decline, but BITCOIN seems to want to take off.
As I said in the title of the post, an inverted Head and Shoulders pattern has formed, with a horizontal neckline at 44000, which is not the best but still valid, if we break this resistance I think we could easily go to the 51000$ and with many possibilities to continue the upward momentum...
I don't know, maybe investors are seeing BITCOIN as a more than real possibility in order to mitigate the extraordinary inflation in which we are experiencing, on the other hand, we have to see how interest rates will be and if this can mean an opportunity for these investors to counter inflation...
We'll see.
@toofasteddie
Disclaimer: This is just my personal point of view, please, do your own assessment and act consequently. Neither this post nor myself is responsible of any of your profit/losses obtained as a result of this information.
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