Bitcoin Don Pass $110K, Don Complete Inverted Head & Shoulders
Bitcoin don form classic inverted head & shoulders pattern, e sharp break pass di $110,000 neckline and e dey signal say market go rise. Crypto analyst Merlijn The Trader talk say di setup get deep “head” wey happen between March and April 2025, plus shoulders dem for February and June–July. After e confirm bullish retest for $110,000, Bitcoin reach all-time high of $122,838 on July 14 before e drop back to $114,260. Even with recent US tariff wahala and $812.25 million wey dem comot from US Spot Bitcoin ETF, di pattern dey show say e fit rally like 27% go $145,000. Traders suppose dey watch di $110,000 breakout level as support, plus dey check ETF flows and big macro events for short-term shakiness, while di inverted head & shoulders pattern dey give better medium-term market outlook.
Bullish
Di completion of inverted head & shoulders pattern wey pass $110,000 neckline be classical bullish reversal signal for technical analysis. When breakout confirm, then clean retest happen for the old resistance, e mean say buyers get strong confidence and solid support base dey. Historical examples—like Bitcoin rebound for April 2021 after similar pattern—show say e get high chance say e go continue go the projected $145,000 target. Even though short-term wahala fit happen because of ETF outflows and macroeconomic headwinds, these things normally just cause temporary pullbacks no be trend reversal. The combination of correct chart pattern, institutional interest wey dey return to Bitcoin ETFs, plus macro catalysts dey support bullish medium to long-term outlook, wey give crypto traders clear plan for entry and risk management.