【BTCJPY】Recoil back to the center of the consolidation during a reverse head and shoulders pattern

In the post dated August 12 titled "BTCJPY: The Turbulent Drop Has Paused," after a period of steep decline in recent days, it formed a "shadow beneath and sun above" (陰の陽はらみ) pattern, and a divergence was also observed. While this suggested a potential reversal, all of these indicators were weak and not definitive. In terms of actual price movement, the price did not break below the lower support, nor did it rise above, and it formed a bullish candle without deviating from the high and low of the previous day’s bullish candlestick.

The current rate has returned to the level of the inverted head-and-shoulders pattern formed recently. Once again, centered around the 700,000 yen mark, the range of awareness seems likely to be from 650,000 yen to 750,000 yen.