Bitcoin is establishing a bullish inverse head-and-shoulders pattern which suggests a promising price surge toward 120,000 USD. The critical neckline resistance stands at 113,378 USD, and surpassing this level would indicate a bullish breakout.
Conversely, should Bitcoin drop below 107,300 USD, this pattern ceases to be valid, indicating a possible bearish trend. If this occurs, attention would shift to the 200-day simple moving average support around 101,850 USD.
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