BITCOIN'S PRICE MAY BE CHARTING A BULL REVERSAL

Hello friends ,I would like to write this blog in very simple words so that everyone could understand. Bitcoin price could create a bullish technical pattern in next few days. I would suggest you all to continue read this blog as I will tell you some facts about why bitcoin price may be charting a Bull Reversal.
It is a confusing picture as the recent short term bullish bias has been neutralized following BTC’s the 10 day moving average. So the risk of pullback to USD 6000 look to have increase of 5.7% Tuesday’s price Drop.
News is that the bitcoin could end up creatin a pattern of inverse head-and-shoulders that is Bullish pattern soon if bear fails to penetrate the support of $6,000 in next couple of days. At press time BTC is changing hands at $6,350 on a 24 hour bias.

CHART

The drop of bitcoin to $6,250 yesterday gave another bearish pattern that is lower high pattern on daily chart. The 5day and 10 day Mas are also began to slope downwards in the favour of the bears. The news is that the BTC looked to test $6,000 in next day or 2. So the chart of short duration indicate that BTC will likely to defend the support of $6,000.

POTENTIAL INVERSE HEAD AND SHOULDERS PATTERN

If the BTC bounces off the support at $6,000 a long term bull reversal would be confirmed and sees a high volume break $6,832 and the probability of completing the head and shoulders pattern remains high.

Whats your opinion about it let me know by commenting below .

Thanks Hitesh Verma