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Inverse Head & Shoulders Breakout: Is Bitcoin Set for $110K?
Bitcoin has formed a significant inverse Head & Shoulders (iH&S) pattern on the 4-hour chart, signaling a strong bullish breakout above the $101K neckline. Analysts are projecting that BTC could hit $110,000 using the measured move theory, supported by robust volume activity during the breakout.
Maintaining support above the neckline and macroeconomic factors will be crucial for Bitcoin’s path towards higher levels.
Bitcoin (BTC) has recently formed an inverse Head & Shoulders pattern on the 4-hour chart, indicating a powerful bullish signal. The breakaway from this trend signifies that investors are becoming increasingly optimistic about the future of cryptocurrency markets.
To further substantiate the projected price increase to $110,000, Bitcoin’s breakout is supported by significant volume activity during this event.
Source: cryptonewsland.com
