Bitcoin (BTC) Price Watch: Waiting for Reversal Confirmation

Bitcoin Price Key HighlightsBitcoin could be in for a longer-term rally as an inverse head and shoulders pattern is forming.
Price needs to break past the neckline around $7,800 to confirm that an uptrend is about to take place.
Technical indicators are still reflecting the presence of bearish momentum, so it could be uphill from here.Bitcoin price has formed a classic reversal pattern to signal that the downtrend might be over soon.
Technical Indicators Signals
The 100 SMA is still below the lo