BITCOIN Inverse H&S in full motion. Next stop = $100k.

17 พ.ค.

We have been expecting the Inverse Head and Shoulders (IH&S) to break-out above the Lower Highs trend-line since May 06 (see chart below) and Bitcoin (BTCUSD) dully delivered:

In fact, what we will do on this idea is simply update the Bullish Megaphone of May 02 and chart it inside a more fitting Channel Up:

The previous two IH&S bottom formations delivered a rise of around +95%. With the 1D MACD on the same Bullish Cross that was present on both of those bottoms, we are expecting the $100000 psychological target to be reached after July, which will even be a rise below +90%.

What is your take on this? Feel free to let us know in the comments section below!

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