The article discussed the significance of the inverse head and shoulders formation, which serves as an indication of a bullish trend and signifies the growing dominance of buyers in the market. It was highlighted by the renowned analyst that this formation model presents a promising outlook for the upcoming price surge. Willy Woo, a prominent crypto analyst and co-founder of CMCC Crest, emphasized the importance of Bitcoin maintaining a price above the short-term holding price of $59,500 in order to sustain its upward trajectory. This statement was made to his extensive following of 1.1 million individuals on X on May 3rd.
