The trader, who reversed the Bitcoin chart and created a formation, claimed that the BTC price would reach 70 thousand dollars.
BTC price tends to fluctuate due to global factors and economic moves. Bullish signals have begun to arrive for BTC, which has been in a downward trend for a long time. Many crypto analysts and traders stated that BTC will rise at least twice in a short time.
Trader Mags, who became popular with his analyzes on the X (formerly Twitter) platform, created an interesting chart formation for BTC. Mags flipped the BTC chart and drew a pattern. Mags, who drew the Shoulder Head Shoulder (OBO) formation, stated that BTC will go to 70 thousand dollars.
Interesting Bitcoin (BTC) prediction from Trader
Popular crypto trader Mags shared a new Bitcoin (BTC) analysis on the X platform.
Mags created a graphic that is contrary to the norm. Mags, who drew the OBO formation, included a surprising detail. This detail was that the BTC chart was inverted.
#Bitcoin is going to $70,000 ??
BTC is forming a massive Head and Shoulder pattern on the inverted chart price is currently testing the Neckline
The Technical target of the pattern, if measured from the neckline, is around $70,000 pic.twitter.com/owLPorGK5j
— Mags (@thescalpingpro) October 13, 2023
According to the formation on the reverse chart, a breakout signal was seen for BTC. According to Mags, if this breakdown occurs, the BTC price may rise to 70 thousand dollars. The chart created by Mags came after BTC broke 27 thousand dollars.
The decline on the BTC side is seen as a bull signal by many traders and analysts. The reason for this is that prices have reached the bottom region and volumes have decreased.
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