Home BTC/USD Technical Analysis: Bitcoin is looking bullish – Watch for a break of this level

Crypto News

BTC/USD Technical Analysis: Bitcoin is looking bullish – Watch for a break of this level

FX Street

Published date: 28 Nov. 2019 | 16:57

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.

Additional Levels

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 posts by FX Street

WARNING: The content on this site should not be considered investment advice and we are not authorised to provide investment advice. Nothing on this website is an endorsement or recommendation of a particular trading strategy or investment decision. The information on this website is general in nature, so you must consider the information in light of your objectives, financial situation and needs. Investing is speculative. When investing your capital is at risk. This site is not intended for use in jurisdictions in which the trading or investments described are prohibited and should only be used by such persons and in such ways as are legally permitted. Your investment may not qualify for investor protection in your country or state of residence, so please conduct your own due diligence or obtain advice where necessary. Crypto promotions on this site do not comply with the UK Financial Promotions Regime and is not intended for UK consumers. This website is free for you to use but we may receive a commission from the companies we feature on this site.