Traders anticipate Bitcoin’s surge as key trading pattern verifies, driving it to the next level.

Bitcoin’s price may experience a bullish trend reversal and surge to new heights if the inverse head-and-shoulders pattern is confirmed, according to a crypto trader. In a recent post, Matthew Hyland explained that if Bitcoin fails to break through the $67.5k mark, a bottom pattern reversal could form over the next month. The inverse head-and-shoulders pattern is a bullish indicator that suggests a decrease in the downtrend and an increase in buyer dominance in the market. Hyland believes that this setup would provide a great opportunity for Bitcoin to continue its upward trajectory. However, it is crucial for Bitcoin to maintain its bullish trend by staying above the short-term holder price of $59,500. If the inverse head-and-shoulders pattern does form, Bitcoin’s price could temporarily dip to $60,000 support levels before reaching new all-time highs. This decline would represent a 5% drop from its current price of $63,350 and result in the liquidation of $530 million in long positions. Hyland’s model suggests that Bitcoin could surpass its current all-time high of $73,800 by June. Additionally, the Fear and Greed Index indicates that buyer interest in the crypto market is slowly increasing, with a current “Greed” score of 69. Some traders expect Bitcoin’s price to remain stagnant in the near term, but they do not see this as a bearish signal. The longer the consolidation period for Bitcoin, the higher its price is expected to rise. Previous cycles have shown that Bitcoin tends to stall for a few weeks after reaching its all-time highs. As always, readers should conduct their own research and exercise caution when making investment decisions.