Bitcoin Forms Bullish Inverse Head and Shoulders Pattern on Chart

Bitcoin (BTC) shows potential for a bullish trend despite recent geopolitical tensions impacting its momentum. A crypto analyst identified an inverse head and shoulders pattern on the three-day chart, indicating a possible breakout towards $150,000.

Key Developments

Analyst Mister Crypto noted the inverse head and shoulders pattern, a bullish indicator.
Analyst Jelle highlighted a major bullish pennant formed above previous highs.
Bitcoin balances on exchanges are nearing two million, the lowest since 2017, suggesting long-term storage by investors.
Analyst apsk32 pointed out BTC's alignment with the power curve cycle, predicting a potential cycle top in late 2025.
Robert Kiyosaki emphasized holding BTC quantity over price, forecasting a rise to $1 million by 2030.
CryptoQuant's Carmelo Aleman projected BTC could reach $205,000 by the end of 2025.
Whales are withdrawing large amounts of BTC, creating an impending supply crunch.

As of now, BTC is trading at $104,359, down 0.1% in the last 24 hours.