Potential Double Bottom Pattern for Bitcoin?
Honestly, there are countless possibilities and patterns for Bitcoin right now. I am focusing on a Potential Double Bottom (W) Pattern since I am following that Idea since mid-December 21, for now, there's more evidence that this actually can be a Double Bottom Pattern.
Just FYI, Weekly was charted here.
As said above, there's a Chance that Bitcoin is evolving into a Double Bottom or so called W Pattern. What gives me confidence is the Fact that the "Heikin Ashi" Candles are sowhing a weakening Trend, so that there's a chance that the current trend finally will change into an Uptrend. This thesis is backed by the RSI which is recovering, a bullish cross will probably happen in 1-2 Weeks, if no major news etc. will crush it.
The Target for the Double Bottom should be somwhere between 100-110k, in the following Months. Of course, just if a Breakout occurs.
If you like my Content, hit the 👍 and/or comment and make sure to follow.
This Analysis is not intended to be investment advice. Always DYOR.
Just FYI, Weekly was charted here.
As said above, there's a Chance that Bitcoin is evolving into a Double Bottom or so called W Pattern. What gives me confidence is the Fact that the "Heikin Ashi" Candles are sowhing a weakening Trend, so that there's a chance that the current trend finally will change into an Uptrend. This thesis is backed by the RSI which is recovering, a bullish cross will probably happen in 1-2 Weeks, if no major news etc. will crush it.
The Target for the Double Bottom should be somwhere between 100-110k, in the following Months. Of course, just if a Breakout occurs.
If you like my Content, hit the 👍 and/or comment and make sure to follow.
This Analysis is not intended to be investment advice. Always DYOR.
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