Bitcoin price is toying with the idea of a bull run likely to ride on the inverted H&S pattern. BTC/USD recovery from the weekly low at $7,650 stalls under $8,000. Spot rate: $7,917 Relative change: -12 Percentage change: -0.15% Trend: Bearish bias Volatility: Shrinking BTC/USD daily chart Bitcoin price is battling increased selling activities at $8,000. The price has settled above $7,900 after advancing from $7,650 support. The freefall from $9,000 activated the completion of an impressive inverted head-and-shoulders (H&S) pattern. A bullish reversal is expected to emanate as the right shoulder of the pattern completes its formation. BTC/USD is staring into a possible bull run that could restore its ‘glory’ above $10,000 and pull it to the recent high at $10,500. BTC/USD hour chart Short term analysis in the hourly range shows the bulls relatively in control. The MACD has recovered significantly following the dip from -196 to the current level at -50. A visible bullish divergence from the MACD shows that buying activities are gradually increasing. The RSI also shows emphasizes on growing bullish influence with its upward slopping motion from levels at 9.52. However, the price remains under the moving averages where the 50 SMA is holding the position at 8,158 and the 100 SMA at $8,600. BTC/USD needs to jump above $8,000 to escape the hovering bearish cloud and allow the bulls to focus on levels towards $9,000. FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street Crypto News share Read Next Ethereum Classic Price Analysis: ETC/USD drops down after failing at the $7-level FX Street 3 years Bitcoin price is toying with the idea of a bull run likely to ride on the inverted H&S pattern. BTC/USD recovery from the weekly low at $7,650 stalls under $8,000. Spot rate: $7,917 Relative change: -12 Percentage change: -0.15% Trend: Bearish bias Volatility: Shrinking BTC/USD daily chart Bitcoin price is battling increased selling activities at $8,000. The price has settled above $7,900 after advancing from $7,650 support. The freefall from $9,000 activated the completion of an impressive inverted head-and-shoulders (H&S) pattern. A bullish reversal is expected to emanate as the right shoulder of the pattern completes its formation. BTC/USD is… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.