As I mentioned on my previous analysis, we can see an Inverse Head & Shoulders pattern on the weekly TF, but now I realized it has some fractal attributes that are symmetrical (as you can see on the yellow curved lines).
I think BTC might be trying to break the neckline in the following days/weeks:
- Inverse H&S is bullish pattern
- Bounced from the 9.8K level
- Perfectly tested the 20-Week Moving Average which acts as strong support
- Declining volume which usually means we can expect volatility in the next days (big move coming)
- VPVR showing significant support below the current price
We're heading to $13K first, then, if we break that resistance level, $20K will come faster than you expect because of the low volume at upper levels.
Zoom out, and look at the big picture!
I think BTC might be trying to break the neckline in the following days/weeks:
- Inverse H&S is bullish pattern
- Bounced from the 9.8K level
- Perfectly tested the 20-Week Moving Average which acts as strong support
- Declining volume which usually means we can expect volatility in the next days (big move coming)
- VPVR showing significant support below the current price
We're heading to $13K first, then, if we break that resistance level, $20K will come faster than you expect because of the low volume at upper levels.
Zoom out, and look at the big picture!
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