Bitcoin: Ascending Inverse Head and Shoulders Forming

Bitcoin appears to be forming an Ascending Inverse Head and Shoulders according to Trader Tardigrade, a bullish reversal pattern that typically ends downtrends.

Price sits at $75976.16 inside Bollinger Bands with upper resistance at $81573.54 and lower support at $73454.1. The structure remains bearish as price trades below both EMA50 at $77764.76 and EMA200 at $80459.27, while MACD prints a death cross at -656.04 and RSI holds neutral at 39.51. A test of the upper Bollinger Band could trigger a retracement toward the 50-EMA before any sustained reversal attempt.