Has Bitcoin (BTC) Found Bottom?--Inverse Head and Shoulders Pattern

in #bitcoin • 8 years ago

Bitcoin is completing an inverse head and shoulders pattern, which often indicates a trend reversal. In addition, price is testing the 50EMA. The next resistance level is around $7900 (the .618 fib retracement). BTC could form a bullish flag as it tests this resistance level (~$6900)...and lower support around $7500.

What are your thoughts? Please comment below!

bitcoinmay.31.png

#cryptocurrency
8 years ago in #bitcoin by
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