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Crypto Analyst Says Bitcoin Flashing Bullish Reversal Setup, Outlines Key Level for BTC Breakout

Crypto Analyst Says Bitcoin Flashing Bullish Reversal Setup, Outlines Key Level for BTC Breakout

DailyhodlDailyhodl2026/04/17 12:27
By:Dailyhodl

A widely followed crypto analyst says that Bitcoin (BTC) could be printing a massive bullish reversal pattern.

The pseudonymous trader Cheds tells his 372,300 followers on X that Bitcoin may be forming a rare head-and-shoulders pattern that marks the end of a correction.

“BTC bullish hopium – compound fulcrum bottom forming on daily.”

Crypto Analyst Says Bitcoin Flashing Bullish Reversal Setup, Outlines Key Level for BTC Breakout image 0 Source: Cheds/X

In technical analysis, a compound fulcrum bottom is a reversal trend when a head-and-shoulders complex pattern forms, having multiple heads or multiple shoulders, after a sustained downtrend.

Legendary trader Peter Brandt has highlighted the compound fulcrum bottom in various historical charts, including copper in the 1970s that led to a doubling of the metal’s value over 14 months.

Cheds also predicts that Bitcoin will have a massive breakout if it can convincing flip $76,000 into support, a level that last acted as resistance in March.

“BTC $74,500 and pushing toward range peak. Breakout at $76,000.”

Crypto Analyst Says Bitcoin Flashing Bullish Reversal Setup, Outlines Key Level for BTC Breakout image 1 Source: Cheds/X

Bitcoin is trading at $74,527 at time of writing, flat on the day.

Next up, the analyst says that Ethereum  may enter a bullish trend if it can break through resistance at $2,400, a level ETH rallied toward last month before correcting.

“ETH now working on broader range breakout circa $2,400.”

Crypto Analyst Says Bitcoin Flashing Bullish Reversal Setup, Outlines Key Level for BTC Breakout image 2 Source: Cheds/X

Ethereum is trading at $2,331 at time of writing, down 1.4% in the last 24 hours.

Generated Image: Midjourney

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Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

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