The longer it takes to break above this neckline the higher the breakout target will be. I have arbitrarily placed the measured move line at July 18th 2025. If the breakout were to happen on that day the measured move target is around 208k, which could take quite awhile to reach or if we entered a truly hyperparabolic blow off top we could reach such a target way quicker than when the dotted measured move line reaches it. *not financial advice*
Note
Nearing the neckline.Trade active
Just got our first weekly close above the neckline. Exactly where I arbitrarily placed the dotted measured move line. I love it when that happens. Hopefully price will go hyperparabolic and reach the full target long before the september 30th and October 5th deadlines given by the supposed July 4th 80,000 bitcoin wallet hackers. Note
1 more thing to add is there is massive resistance not shown here on this chart currently at around 132k from a long standing super pivotal trendline. Worth keeping that in mind. Clearing that trendline and flipping it to solidified support would be extremely bullish.Note
3 weekly candle closes above the neckline but the current candle is now back down below the neckline. Hopefully it can find a way back above the necklne before it closes, but no big worries if it doesn’t as it is quite common for price action to dip back below the neckline of an inverse head and shoulders a time or two before the rel breakout is confirmed. 
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.