Bitcoin inverse head and shoulders is forming near $108,000–$112,500 and could signal a bullish reversal if BTC breaks above the $112,500 neckline with volume confirmation. Traders should watch $117,570 as a key reclaim level to avoid a double-top risk and confirm broader upside.
Inverse head and shoulders suggests a potential bullish reversal if a clean breakout above the $112,500 neckline occurs.
Key support and resistance: left/right shoulders ~ $110,500; head at $108,000; make-or-break level at $117,570.
BTC last reported at $111,491 (CoinGecko), down ~2% in 24h and ~10% from the recent local high of $124,128.
Bitcoin inverse head and shoulders: BTC forms an inverse head-and-shoulders near $108k–$112.5k; learn key levels, breakout criteria, and risk management.
What is the Bitcoin inverse head and shoulders pattern?
The Bitcoin inverse head and shoulders is a bullish reversal pattern formed by two higher lows (shoulders) around a lower low (head). It indicates a potential trend change when price breaks above the horizontal “neckline.” Confirmation requires a decisive close above the neckline with increased trading volume.
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The neckline in this setup sits near $112,500 on intraday charts shared by traders. A breakout is confirmed when Bitcoin closes above that level on meaningful volume. Trader observations (Josh Olszewicz) and price feeds (CoinGecko) suggest a clean breakout through $112,500 would validate the pattern and open targets toward the mid-$117k area.
The inverse head and shoulders can fail without a clear breakout; false breakouts and low volume increases failure risk. Prominent trader Peter Brandt warned about a possible double top after recent corrections. Bulls should reclaim the $117,570 mark to reduce the chance of a bearish double-top continuation.
Real-time price reference: Bitcoin is trading at $111,491 (CoinGecko), down ~2% over 24 hours and roughly 10% from the recent life-time local peak of $124,128 recorded in August.
Trader Josh Olszewicz highlighted the neckline near $112,500 on the one-hour chart. Trader Peter Brandt warned that Bitcoin faces a double top after the correction and estimated a 30% chance that BTC peaked in August. These are plain-text references to their public observations and should be weighed alongside price action and volume.
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Source: https://en.coinotag.com/bitcoin-could-be-forming-inverse-head-and-shoulders-may-signal-reversal-amid-double-top-risk/