Bitcoin's Double Bottom Reversal

1.Double Bottom Formation
Bitcoin has formed a double bottom pattern, signaling a potential bullish reversal.
The second bottom was created around $89,200, which acts as a strong support level.

2.Neckline Resistance at $91,200
The neckline of the double bottom pattern is at $91,200.
A daily close above $91,200 is crucial to confirm the breakout and initiate an upward move.

3.Bullish Scenario
If the price successfully breaks and closes above the neckline, a long position can be considered.
The breakout could lead to a potential price target of higher resistance zones, depending on momentum.

4.Risk Management:
If the price fails to sustain above $91,200, a retest of lower support ($89,200) could occur.

5. Key Levels to Watch
Support: $89,200
Resistance : $91,200 (neckline)

Bitcoin is showing signs of a bullish reversal from the double bottom pattern. Keep a close eye on the neckline breakout for confirmation before entering long positions.