BTC | Inverted H&S

20 Mar 2023

Bitcoin has formed an inverted head and shoulder pattern and has broken above it after retesting the 30-week moving average for support. It may retest the H&S neckline around the 25250 level for support and eventually move towards the Fibonacci retracement level of 0.382. If BTC falls below the neckline and the 10-week moving average, the crypto coin may become bearish again and descend to retest the 30-week moving average once more.