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The Bitcoin price might be setting up for a massive rally in the coming days! This bullish rally could easily push the crypto price to the $35,875 price region in the coming weeks.
In this Bitcoin analysis, we will be talking about why we believe this bullish rally is coming soon, the key levels we are currently watching, and the unique pattern forming right now in the 4-hour timeframe.
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BTC Inverse Head and Shoulders Pattern!
The image above is an example of what a completed Inverse Head and Shoulders Pattern should look like. When we compare this drawing with the current price action playing out in the BTC 4-hour timeframe, we see a lot of similarities in the price structure.
And right now, the BTC price has broken through the Neckline Region of the pattern, indicating that the BTC bullish rally has begun!
If this Inverse Head and Shoulders pattern continues to play out, there is a very high probability that we might see the BTC price bounce and continue to rally higher to the $35,875 price level in the coming days.
This is a potential +25% rally in the value of Bitcoin and is the standard target for this key pattern playing out right now.
Key Levels To Watch!
The BTC price is right now in a bullish market and will remain within this bullish market as far as this crypto price continues to respect and trade above the $19,136 key support region in the 4-hour timeframe.
So for now we are bullish on Bitcoin, even if we see a much deeper pullback like the image below, we will remain bullish.
However, if the BTC price break below this $19,136 key support in the 4-hour timeframe, it would invalidate our Inverse Head and Shoulders pattern and invalidate our bullish bias on Bitcoin.
This makes this $19,136 support the most important support to watch for and we will be keeping a close eye on this key level as the BTC price action develops.
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