Bitcoin can seem to end upwards (BTC) analysis It was presented by the prominent chart Peter Brandt.
The largest encrypted currency is formed by the market value of the head and the reverse shoulder style on the daily chart, which is believed to be a sign of the bullish reflection. However, there is hunting: the pattern in which the bitcoin price is currently developing has a landing line.
Brandt, who has more than four decades of experience as a trader of commodities, says he prefers H&S patterns with horizontal neck lines because they are remarkably more reliable.
The dirt climbing neck line means that the bullish momentum of the cryptocurrency may fade due to the lack of aggressive purchase. Thus, one should not exclude that any future outbreak will end up until it is fake, as the price has decreased to the bottom of the neck line of the pattern.
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Returning to $ 60,000?
The prominent trader Josh Olzwech also noticed the bullish style on a one -day chart in a post of modern social media. It appears to be convinced that this may be the last chance of intensifying bulls. Otherwise, Bitcoin can be at risk of collapse to a range of $ 60,000-70,000.
According to the data provided by Coingecko, Bitcoin is currently trading at $ 83.091 after losing 0.7 % over the past 24 hours. Earlier this Sunday, the cryptocurrency reached the lowest level of the day of $ 81,769.
The cryptocurrency is struggled to revive its upscale momentum, as global trade tensions put severe stress on the risks.
