Table of Contents
In our previous Bitcoin analysis Must Read: $22,378 The Most Important Support For BTC Right Now! we talked about the Inverse Head and Shoulder Pattern, and how this bullish reversal pattern could be the best indicator to confirm a price bounce in the BTC 1-hour timeframe.
Well, that bullish prediction is playing out exactly! Right now the Bitcoin price has finally broken through the Neckline region of the Inverse head and shoulders pattern and is surging higher!
In this Bitcoin analysis, we will be talking about our likely targets as well as the key levels we are currently watching.
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Bullish Target For Bitcoin
The Inverse Head and Shoulders pattern comes with its own standard target. This standard target is what we will be using to measure our next likely level of interest for this bullish move in Bitcoin.
And that bullish target for Bitcoin is the $24,565 price level. This is about a +5% surge in the value of BTC and we might see this playing out all through today.
So in the coming days, we expect to see further price rallies for Bitcoin as the BTC price pushes closer to our $24,565 key target.
Final Verdict!
Our Bitcoin bullish prediction is playing out exactly. However, there is a very high probability that this bullish rally is far from over!
We expect to see the BTC price continue to push higher as we head to our bullish target of $24,565 for the inverse head and shoulders pattern playing out in the 1-hour timeframe.
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