Bitcoin Forms Bullish Head and Shoulders Pattern

Bitcoin has been experiencing a dramatic bulk run since February of this year rising over 100%. Like any bull run one expects to see peaks and valleys along the way.

On may 30 the currency underwent a dramatic brief surge past $9000 only to be followed by a large correction across all crypto assets

A careful look at the pattern however indicates that BTC has actually formed a very bullish head and shoulders pattern that should after a few days or consolidation lead to a new surge upwards.

It is widely expected BTC will break the 10,000 psychological barrier coinciding with the traditionally bullish month of June.

Buy the dip?

Leave a Reply

Your email address will not be published. Required fields are marked *