Market Insights: Assessing the Potential of a Bullish Breakout in the Cryptocurrency Market

Inverse Head & Shoulders Breakout: Is Bitcoin Set for $110K?

Bitcoin has recently formed a significant inverse Head & Shoulders pattern on the 4-hour chart, indicating a strong bullish breakout above the $101K neckline. As a result, analysts are projecting that BTC could potentially hit $110,000 using the measured move theory, which is backed by robust volume activity during the breakout.

Maintaining support above the neckline and macroeconomic factors remain crucial for Bitcoin’s path towards higher levels.

Source: cryptonewsland.com