The article discusses the inverse head and shoulders formation, which is a signal of a bullish trend indicating that buyers are gaining control in the market. The renowned analyst, Willy Woo, who is also the co-founder of CMCC Crest, mentioned this formation in a recent post. According to Woo, this model is highly favorable for the upcoming price surge. On May 3rd, Woo addressed his 1.1 million followers on X, emphasizing the significance of Bitcoin maintaining a price above the short-term support level of $59,500 to sustain its upward trajectory.
