BitcoinLong
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If we were to reverse here, this is how I see it playing out. We've already broken the neckline of the most recent double bottom, so we may be experiencing a small retrace, followed by the price shooting up. This pattern was well-documented at the low of $255 and seems to be following it a la textbook.
In the last double bottom, the price retraced to the 61.8% line, so based on areas of support and resistance outlined on the chart by the red bars, I would expect the same thing to occur here.
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In the last double bottom, the price retraced to the 61.8% line, so based on areas of support and resistance outlined on the chart by the red bars, I would expect the same thing to occur here.
If you donate, I will love you till I die:
1Eg1QK5vJVCcSoZM3Cp8dgpJ9jv4tjng8m
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Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.