Bitcoin Breaks Out: Head-and-Shoulders Pattern Signals Cautious Optimism

Despite showing bullish signs with an inverse head-and-shoulders pattern on the daily chart, Bitcoin faces a potential false breakout if momentum falters. Experts cite an inverted head-and-shoulders formation, often considered a bullish reversal indicator, and its downward sloping neckline as indicators of weaker buyer strength. This could signal loss of buying pressure, potentially leading to price retractions.