A widely followed crypto analyst says that Bitcoin (BTC<\/a>) could be printing a massive bullish reversal pattern.<\/p>\n The pseudonymous trader Cheds tells<\/a> his 372,300 followers on X that Bitcoin may be forming a rare head-and-shoulders pattern that marks the end of a correction.<\/p>\n \u201cBTC bullish hopium \u2013 compound fulcrum bottom forming on daily.\u201d<\/em><\/p>\n In technical analysis<\/a>, a compound fulcrum bottom is a reversal trend when a head-and-shoulders complex pattern forms, having multiple heads or multiple shoulders, after a sustained downtrend.<\/p>\n Legendary trader Peter Brandt has highlighted the compound fulcrum bottom in various historical charts, including copper in the 1970s that led to a doubling of the metal\u2019s value over 14 months.<\/p>\n Cheds also predicts<\/a> that Bitcoin will have a massive breakout if it can convincing flip $76,000 into support, a level that last acted as resistance in March.<\/p>\n \u201cBTC $74,500 and pushing toward range peak. Breakout at $76,000.\u201d<\/em><\/p>\n Bitcoin is trading at $74,527 at time of writing, flat on the day.<\/p>\n Next up, the analyst says<\/a> that Ethereum \u00a0may enter a bullish trend if it can break through resistance at $2,400, a level ETH<\/a> rallied toward last month before correcting.<\/p>\n \u201cETH now working on broader range breakout circa $2,400.\u201d<\/em><\/p>\n Ethereum is trading at $2,331 at time of writing, down 1.4% in the last 24 hours.<\/p>\n Follow us on X<\/a>, Facebook<\/a> and Telegram<\/a><\/span><\/em>  <\/p>\n Generated Image: Midjourney<\/p>\n<\/p><\/div>\n","protected":false},"excerpt":{"rendered":" A widely followed crypto analyst says that Bitcoin (BTC) could be printing a massive bullish reversal pattern. The pseudonymous trader Cheds tells his 372,300 followers on X that Bitcoin may be forming a rare head-and-shoulders pattern that marks the end of a correction. \u201cBTC bullish hopium \u2013 compound fulcrum bottom forming on daily.\u201d Source: Cheds\/X […]<\/p>\n","protected":false},"author":2,"featured_media":424670,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[173],"tags":[201,248,251,246,257,255,250,252,247,253,249,256,254],"class_list":["post-424668","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-others","tag-blockchain","tag-bsc","tag-chainlink","tag-coin","tag-cryptocurrency","tag-gta","tag-looks-rare","tag-oracle","tag-polygon","tag-quickswap","tag-safe-moon","tag-wallet","tag-wordpress"],"_links":{"self":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/424668","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/comments?post=424668"}],"version-history":[{"count":1,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/424668\/revisions"}],"predecessor-version":[{"id":424671,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/424668\/revisions\/424671"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media\/424670"}],"wp:attachment":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media?parent=424668"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/categories?post=424668"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/tags?post=424668"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}
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