Bitcoin prepares to shoot to higher highs after steady sideways momentum.
Analyst sees completion of bullish inverse head & shoulders pattern.
BTC prepares to hit higher highs and set a new ATH soon.
The price of Bitcoin continues to trade between $113,000 and $115,000 ever since it closed the CME Gap in this price range following its last market dip. One analyst believes that Bitcoin is maintaining a neutral movement before it surges to hit higher highs. In detail, Bitcoin prepares to shoot to higher highs following the completion of a bullish inverse head & shoulders pattern.
Bitcoin Prepares to Shoot to Higher Highs
The price of BTC experienced two major market dips in the last few weeks. It all began with Galaxy Digital selling 80,000 BTC worth $9 billion leading to BTC price declining from $119,000 to $115,000, just when it was nearing breaking out of the $120,000 price range. Despite the heavy sell-off, the price of BTC did not fall far and recovered back to $118,000 before another market dip sent it tumbling to the $113,000 price range.
After this tumble, the price of BTC went on to fill the $114,000 to $115,000 CME Gap and has since been trying to break out from this region. Presently, according to CoinMarketCap analytics, the price of the pioneer crypto asset, Bitcoin (BTC), is trading at the $114,000 price range, and analysts are taking a closer look at the BTC price chart to see what can be expected next for the price of BTC.
One such analyst sharing his opinions and observations on the matter is the reputed silver-tongued analyst known for his accurate predictions, Doctor Profit. This analyst has been sharing weekly reports on BTC and what to be expected next. For the last couple of weeks, his BTC reports have stated that BTC is slowly working its way up to higher highs and the latest post says the same.
https://twitter.com/DrProfitCrypto/status/1953109514124665247
As we can see from the post above, Doctor Profit says that Bitcoin is not moving up right now, but the pioneer crypto asset is also not moving down either. He says that BTC is moving in a macro sideway direction and preparing the next leg up to the upside. He concludes saying that these moves may take some time to build, but is certain that BTC is currently in a hold season and encourages holders to hold on tight to their BTC.
BTC Completes Bullish Inverse Head & Shoulders Pattern
https://twitter.com/el_crypto_prof/status/1953120566807761260
Meanwhile, another reputed crypto analyst says that the clock is ticking for Bitcoin (BTC) and that the asset is preparing to surge in a bullish explosive pump as a result of a completed inverse head & shoulders pattern. The analyst says that BTC has already broken out of the pattern and is currently undergoing a retest before an exposive pump follows through, sending BTC price to new ATH prices.
