$6.6K: Bitcoin Price Eyes New Target for Bull Reversal

Bitcoin is hinting at life, yet just a break above key opposition at $6,675 would affirm a bullish inversion, specialized outlines demonstrate.

At squeeze time, the main digital money is changing hands at $6,470 on Bitfinex – up 10 percent from the 6.5-week low of $5,859 hit on Aug. 14.

Notwithstanding, the break underneath the key help of $6,000 (February low) was brief and costs moved back above $6,100 by UTC close, flagging bearish fatigue.

All the more critically, the finish has been sure: BTC crossed Tuesday's high of $6,259 and bounced to $6,649 yesterday, affirming that merchants have likely run dry and deal seekers are finding the present cost excessively appealing, making it impossible to leave behind.

Thus, it appears to be protected to state that a bullish pattern inversion is in advance and would be affirmed if costs take out the backwards head-and-shoulders neck area opposition of $6,675, as found in the diagram underneath.![]
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