It is a figure that anticipates rises and therefore the end of a corrective phase. It is the inverse figure to the classic ‘head and shoulders’ that we have explained on other occasions. Both are quite reliable within the different formations that we can find in the markets.
To begin with, the 'hammer' of the June 22 session has held the market's stakes in recent sessions / weeks, since at no time the price was placed below it. Hence in mid-July we talked about somewhere you had to start. And without making much noise, we suddenly have him attacking the important resistance of the 41,500 dollars of the future: the highs of June, July and this Monday.
The $ 41,500 of the future corresponds to the $ 42,600 of cash. We are going to see what this Friday's session has in store for us, but there is no doubt that we are in a very interesting market moment. Since the overcoming of the mentioned resistance levels, with ease, would activate an important signal of strength in bitcoin, which from that moment would be activating an inverted 'head and shoulders' with objective (theoretical minimum) in the approximately $ 60,000 (the height of the 'head'). Which will probably end up taking you to the zone of annual and all-time highs, at $ 65,500.
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