BTC/USD Technical Analysis: Bitcoin is looking bullish - Watch for a break of this level
|- Bitcoin has pushed higher to trade flat after being 2% lower earlier in the session.
- Now the BTC/USD pair is looking to complete the technical inverse head and shoulders pattern.
BTC/USD 1-Hour Chart
Bitcoin is looking to push higher on the hourly chart below.
The chart highlights the inverse head and shoulders formation.
Now the 7,676 resistance level is in focus as if the price breaks the level it will create a new wave high.
Beyond that, the 8K level could be the next target for the bulls.
-637105529387306787.png){kind=link}
Additional Levels
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.