Following our previous Bitcoin price analysis, the formation of an inverse Head and Shoulders pattern is still alive, keeping the ‘low’ of the shoulders at around $6100.
As of now, though resistance level at $6400 – including the resistant line along with Moving average 50 days and 200 days (pink and purple lines). Afterwards, the $6600 resistance line lies, and the major $6800, which is critical for the H&S pattern.
From the bear side, $6130~ and $6000 are the nearest support lines.
Bitcoin Prices: BTC/USD BitFinex 4 Hours chart
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