Bitcoin's chart is setting up a bullish near-term move, with a measured-move target as high as $76,000 if the pattern confirms. Gareth Soloway, Chief Market Strategist at Verified Investing, walks through the inverse head and shoulders forming at the lows, how to calculate its true target off the head, and the single down-sloping trend line that explains exactly why Bitcoin has been stalling for the past two-plus weeks. Video by Gareth Soloway.
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Time stamps
0:00 Intro: Key Developments On The Bitcoin Chart
0:40 Near-Term Bullish Bias & The Inverse Head And Shoulders
1:35 How To Calculate The Measured Move Target
2:43 The Trend Line That Explains Bitcoin's Stall
4:35 Stacking Multiple Factors For A High-Probability Setup
5:40 Bear Market Rallies: The Semiconductor Comparison
6:45 The Bigger Head And Shoulders & The $35,000 Target
8:35 Rumble Wallet
This one is a clinic on making sense out of chaos with simple lines and formations.
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