Is Bitcoin pointing to move toward $53,000?

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.