Must read: $22,378 is the most important support for BTC right now!

Bitcoin needs to hold the critical support at $22,378 to remain bullish! This hour-long critical level is the only support that will stop BTC price from plummeting to the $20,500 price level .

A Crash Like This Would Almost Boost Bitcoin’s Value -Ten% Down if it works. This is why BTC bulls must respect this important level and keep it at all costs!

The question now is, “Will they be able to defend this critical support at $22,378, or should we expect the price to fall in the next few days?”

In this Bitcoin analysis, we are only talking about Bitcoin bull price scenarios. What must happen for Bitcoin to rise in the next few days and the key levels we’re watching.

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Bitcoin Bullish Forecast!

The first important point to note is:

We can only remain bullish on Bitcoin if the price respects the major support at $22,378 on the 1-hour timeframe and continues to trade!

If this critical $22,378 support holds, we can expect Bitcoin price to rise further in the coming days. The key pattern we are watching closely for this potential rally in the Bitcoin price chat is inverted head and shoulders pattern.

Bitcoin inverted head and shoulders pattern

The Inverse Head and Shoulders pattern is very popular among traders and is used to spot potential reversals in bear markets.

On the Bitcoin price chart, that rally would mark the end of the small bearish trend experienced throughout the week. neckline region.

Until this bullish breakout happens, we will stand aside and wait for that bullish confirmation to unfold.

Why this pattern matters

This inverted head and shoulders pattern is very important because of its position!

This bullish reversal pattern has formed with the critical support at $22,378 that Bitcoin bulls want to defend. Therefore, if we see a price rally, it will be double confirmation that the bulls are in control.

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