Jasmy Double Bottom Hit?Let’s break this down based on the scenario you’ve described and explore what it might mean for Jasmy’s price movement, while keeping it grounded in general technical analysis principles.
Historical Context and Double Bottom Analysis
I’ve noted two key periods:
November 2021 to March 2022:
-Jasmy topped out at $0.35 in November 2021.
-It corrected over four months, dropping to $0.011 by March 2022.
-A volume spike in March 2022 coincided with a 300% rally, suggesting strong buying interest at
that level, before it retraced again.
November 2023 to March 2025:
-Jasmy peaked at $0.059 in early December 2023.
-It’s been correcting for four months (to March 2025, the current date), and you’re observing a
potential double bottom around a similar price level as March 2022 (likely near $0.011 or
slightly higher/lower).
A double bottom is a bullish reversal pattern shaped like a "W," where the price hits a support level twice, fails to break lower, and then reverses upward. For this pattern to be valid:
-The two lows should be at roughly the same price (e.g., around $0.011 in your scenario).
-The second bottom often comes with higher volume or a divergence in momentum indicators
(like RSI) to signal buyer exhaustion of the downtrend.
-Confirmation occurs when the price breaks above the "neckline" (the peak between the two
bottoms). Based on your timeline, this neckline might be around the interim high after the
first bottom in 2022 or a resistance level formed during the current correction.
If Jasmy is indeed forming a double bottom now in March 2025 at a level similar to March 2022 (e.g., $0.011), and it’s showing signs of reversal (like increased volume or momentum), this could indicate strong support and a potential move higher.
The Bowl (Cup) and Handle Formation
I’ve also identified a three-year trend line forming a "bowl"—likely referring to a cup and handle pattern, a bullish continuation or reversal setup:
-Cup: The "bowl" represents a rounded bottoming process. From March 2022 (first bottom) to
now (March 2025, second bottom), Jasmy has been carving out a gradual U-shaped recovery
after its steep declines from $0.35 (2021) and $0.059 (2023). This suggests a multi-year
accumulation phase.
-Handle: The "handle" typically forms as a shorter-term consolidation or pullback after the cup
completes, just before a breakout. You’re anticipating this handle to form on the next move
up, which could happen if Jasmy breaks above resistance (e.g., the neckline of the double
bottom or a higher level like $0.059).
For a cup and handle to play out:
-The cup’s depth (from $0.35 to $0.011) suggests a significant prior decline, and the recovery
would need to approach or exceed the prior high ($0.35) for a full breakout target.
-The handle would likely form after a rally from the current double bottom, consolidating near
a resistance level before the next leg up.
Volume and Momentum
The volume spike in March 2022 that led to a 300% rally is a key clue. If a similar volume surge is occurring now (March 2025) alongside the second bottom, it could signal that buyers are stepping in aggressively again, supporting your reversal thesis. Watch for:
-Volume Confirmation: Higher volume on the second bottom or during a breakout above the
neckline strengthens the pattern.
-Momentum Indicators: A bullish divergence in RSI or MACD (where price makes a lower or equal
low, but the indicator shows higher lows) would further validate the reversal.
Price Targets
If the double bottom confirms:
-Measure the height from the bottom (e.g., $0.011) to the neckline (say, $0.02–$0.03,
depending on the interim high). Add this to the neckline for a target. For example, a $0.015
height added to a $0.025 neckline suggests a target near $0.04–$0.05 initially.
-The prior high of $0.059 (December 2023) could be the next significant resistance.
For the cup and handle:
-The target is typically the depth of the cup added to the breakout point. If the cup spans
$0.011 to $0.35, that’s a $0.339 height. A breakout above a handle near $0.059 could
theoretically aim for $0.40 or higher over the long term—though this assumes a very strong
bullish trend.
Current Scenario (March 21, 2025)
As of today, I'm suggesting Jasmy has hit this double bottom and is showing a "strong reversal." If it’s holding above $0.011 (or wherever the exact second bottom lies) and breaking above a short-term resistance (e.g., $0.02–$0.03), it could be starting the handle formation or an initial rally. The consistent three-year bowl indicates this might be part of a larger bullish structure, with the next move potentially testing $0.059 or beyond.
What to Watch
-Breakout Confirmation: A close above the neckline with strong volume would confirm the
double bottom.
- Support Test: If it dips below the second bottom (e.g., $0.011), the pattern could fail,
signaling further downside.
- Broader Market: Crypto trends (e.g., Bitcoin’s performance) often influence altcoins like
Jasmy, so check the macro context.
This paints an intriguing picture of Jasmy repeating historical patterns with a twist of long-term potential.
