Potentially an interesting bullish inverse head and shoulders pattern emerging on the $BTCUSD weekly chart. Within a more macro ascending channel , the most recent candles have formed a left shoulder, head, and are starting to form the right. With the price currently testing the 20 and 50 VWAP , we may get a bounce. However, if it does fail, we still can rely on support from the 72 to 89 EMA cloud (red cloud) for a price bounce given its most recent history with respecting and creating a price support shelf (see right hand VPVR). MACD has also crossed and the RSI is getting compressed with upside bias.

I’m thinking some big moves are about to come in $BTC and that it will rally hard to the upside. Long.