(Bloomberg) -- Bitcoin is forming a technical pattern that suggests a brighter period lies ahead for the world’s largest cryptocurrency. The pattern, a so-called reverse head and shoulders, is often viewed as signaling a flip in a downtrend. The study suggests that a target of about $53,000 would come into play for the token -- which is up some 3% on Tuesday -- if it breaks the neckline of the reverse head and shoulders at about $44,600.
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