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Bullish Inverse H&S Hourly Chart
Bitcoin Technical Analysis: Inverse H&S and That 100k Barrier
Looks like Bitcoin has formed another Inverse Head & Shoulders (H&S)! It’s not the prettiest one we’ve seen, but it’s there, and BTC is currently testing a key support level. If it bounces off this support, we’re looking at a potential target of $103,000.
That said, the big question isn’t just about the technicals—it’s whether Bitcoin can finally break through the 100k psychological barrier. That number has been a massive mental block for traders, and breaking it could open the floodgates.
On the side, I’ve also been using the Phoenix Ascending indicator, which adds another layer to this analysis. The Bollinger Bands (BB) are tightening on higher timeframes, showing reduced volatility that usually leads to a big move. At the same time, momentum, RSI, and LSMA are all pointing to upward pressure but are sitting close to neutral (RSI hovering around 50). This tells me we might consolidate sideways for a bit longer before anything major happens—but I’m leaning bullish and expecting some positive action soon.
What Happens When 100k Breaks?
This is just a dubious opinion of mine so take it with some salt...
If Bitcoin does crack 100k, it could be game on. Breaking that level might cause retail investors and everyday folks to start FOMO-ing in like crazy, pushing the price even higher. And with December around the corner, I wouldn’t be surprised if we see a classic Santa Claus rally, which could add even more fuel to the fire.
Looks like Bitcoin has formed another Inverse Head & Shoulders (H&S)! It’s not the prettiest one we’ve seen, but it’s there, and BTC is currently testing a key support level. If it bounces off this support, we’re looking at a potential target of $103,000.
That said, the big question isn’t just about the technicals—it’s whether Bitcoin can finally break through the 100k psychological barrier. That number has been a massive mental block for traders, and breaking it could open the floodgates.
On the side, I’ve also been using the Phoenix Ascending indicator, which adds another layer to this analysis. The Bollinger Bands (BB) are tightening on higher timeframes, showing reduced volatility that usually leads to a big move. At the same time, momentum, RSI, and LSMA are all pointing to upward pressure but are sitting close to neutral (RSI hovering around 50). This tells me we might consolidate sideways for a bit longer before anything major happens—but I’m leaning bullish and expecting some positive action soon.
What Happens When 100k Breaks?
This is just a dubious opinion of mine so take it with some salt...
If Bitcoin does crack 100k, it could be game on. Breaking that level might cause retail investors and everyday folks to start FOMO-ing in like crazy, pushing the price even higher. And with December around the corner, I wouldn’t be surprised if we see a classic Santa Claus rally, which could add even more fuel to the fire.
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Aviso legal
As informações e publicações não devem ser e não constituem conselhos ou recomendações financeiras, de investimento, de negociação ou de qualquer outro tipo, fornecidas ou endossadas pela TradingView. Leia mais em Termos de uso.