BTC seems to be in the later stages of an inverse head & shoulders pattern. This is classically a bullish trading pattern.
This analysis aligns well with my previous BTC analysis. The first break out towards $45k went too quickly, and we needed some time to cool down. Wouldn't be surprised if we went only up from here on.
However, there's always risk of further downside. Therefore, my advice would be to wait patiently for the pattern to complete. Once it's completed we might see a strong bullish move towards $50k or so.
Happy trading!
This analysis aligns well with my previous BTC analysis. The first break out towards $45k went too quickly, and we needed some time to cool down. Wouldn't be surprised if we went only up from here on.
However, there's always risk of further downside. Therefore, my advice would be to wait patiently for the pattern to complete. Once it's completed we might see a strong bullish move towards $50k or so.
Happy trading!
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