BITCOIN Double Bottom? The bull signal you don't want to miss!!

BTC has recently touched the 9100 Support on the 1D level, issuing a rebound that kept the short term trend on a Descending Triangle. This support action has the potential to turn into a Double Bottom.

Since the Bear Cycle bottom at 3200, Bitcoin has respected the Double/ Triple Bottom formation on all instances. As you see on the chart when the Double Bottom was followed by a Golden Cross formation on 1H, the price started an aggressive rise.

It is then natural to assume that if we now see a Golden Cross we can expect an aggressive rise on the short term.

Be alert!

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Kommentera:

The "Lower High Rejection on the 0.618 Fibonacci" call out shouldn't be there. It is a system error from a previous idea. Please ignore it.