Bitcoin will ‘propel the next leg up’ if key trading pattern confirms — Traders
The inverse head and shoulders pattern forming “would make sense” if Bitcoin doesn’t “break straight through” to $67,500, according to a crypto trader.
Bitcoin’s (BTC) price could see a bullish trend reversal and “propel the next leg up” if the popular trading indicator known as the inverse head and shoulders pattern is confirmed, according to a crypto trader.
“If we don’t break straight through $67.5k then something like this forming over the next month would make sense for a bottom pattern reversal,” crypto trader Matthew Hyland explained in a May 4 post on X.
He is referring to the inverse head and shoulders pattern — a bullish indicator which signals the downtrend is easing, and buyers are becoming more dominant in the market.
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Author: Ciaran Lyons
