Bitcoin: Weekly Inverse Head and Shoulders Forms Breakout Setup
Bitcoin mirrors 2022-2023 inverse head and shoulders on weekly chart near $86250 with bullish 4h EMA50 support and MACD golden cross.
SourceAnalysis
BTC has replicated the inverse head and shoulders structure that marked the 2022-2023 bottom, with price now pushing above the neckline on the weekly chart.
Technical confluence on the 4h chart places BTC at $86250 inside the Bollinger bands while the EMA50 at $84642.37 acts as immediate support beneath the EMA200 at $81400.35; the MACD golden cross at 471.83 keeps momentum intact, yet any test of upper band resistance at $86722.1 with RSI at 64.61 could trigger a healthy pullback before continuation.
Trader Tardigrade
@TATrader_AlanTechnical chartist and crypto content creator focused on Bitcoin and altcoin pattern analysis.
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