Bitcoin may rise to $76,000 on a bullish pattern
Bitcoin’s daily chart is forming a potential inverse head-and-shoulders pattern, which could suggest a rally to $76,000 if confirmed.
The pattern involves three troughs, with the middle trough being the deepest, and a completed pattern is marked by prices rising through a line connecting the interim recoveries.
A low near $60,000 in early June formed the left shoulder, and a deeper trough near $57,700 in late June or early July marked the head.
The pattern is not confirmed yet, and the Clarity Act uncertainty is a reason to watch for renewed weakness below the 50-day average, with potential resistance at $66,800 and $62,500.