$BTC In a previous post, I highlighted two potential reversal zones where I believe this relief rally could come to an end.



Now, we have printed an inverse head and shoulders pattern, which suggests a price target of 67k for this leg up.

Coincidentally, 67k also sits within my second reversal zone, making a reaction there quite likely.

Of course, we could still get rejected before reaching it in the first reversal zone just above us.

However, from a TA standpoint, a move toward the second zone would make sense.
BTC1.65%
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GoldfishOnIce
· 1h ago
The target position overlaps with the reversal zone, a typical area for both bullish and bearish traps.
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LeverageWhisperer
· 1h ago
If 67k breaks out with increased volume, the story will change.
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SlippagePoet
· 1h ago
This trend makes me think of the wave in March; will history repeat itself?
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WaitingForConfirmationUnderThe
· 1h ago
If 67k really hits, I will directly reduce my position and not greed for the last bit.
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LendingRateAnxiety
· 1h ago
First see Zone 1, 67k, we'll talk about it later.
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GateUser-e84f640c
· 1h ago
If the right shoulder volume can't keep up, the entire pattern is ruined.
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OrigamiMountains
· 1h ago
This kind of technical analysis coincidence is most often used by the big players to trap people.
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Salt-BakedBabyPotatoes
· 1h ago
From a structural perspective, it is indeed more reasonable to go to the second reversal zone, but reasonable things rarely happen.
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