Bitcoin at Critical Levels: Head and Shoulders Pattern in Focus!
Updated
BTCUSD At the time of writing, Bitcoin is trading at 59,771.36. Despite forming a Head and Shoulders pattern, a bearish signal with a ~70% probability of continuing downward, the price action is currently undecided.
If the price breaks the neckline at 57,088.60, the bearish move could push Bitcoin down to the next target of 49,014.74. However, if the price manages to break above the breakout line from the head, Bitcoin could rally toward the 69,927.00 resistance level.
Trade closed: target reached
Target Reached: 65078.41
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