Possible Double Bottom - Bitcoin showing positive signs
Bitcoin showing positive signs so far.
A "Double Bottom" is a Bullish reversal chart pattern that is found at end of a downtrend.
We still need to observe the next hours of price action.
Looking for a breakout at the neckline.
Possible quick play up to 7930.
A "Double Bottom" is a Bullish reversal chart pattern that is found at end of a downtrend.
We still need to observe the next hours of price action.
Looking for a breakout at the neckline.
Possible quick play up to 7930.
Nota
The 7530 region was defended x4 times (showing it was a key area of interest) until eventually, we unfortunately broke below (but not too far).As mentioned before, we need to observe at this time for confirmation of a bottom and reversal.
Bullish: Cross 7800
Bearish: Break 7300
Nota
May main bottom target of these past days/weeks was constantly 7200-7300, which we hit right in the middle of today. I see more volume here than we've seen in a while (which is a good sign). Still, we must observe further before attempting to predict next targets.
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