Did bulls lost this battle? wait, BTC is forming double bottom.

Bitcoin is forming double bottom as shown on hourly. It has failed to close daily above downtrend line and things are starting to look bearish, but that doesn't means it's game over for bulls. It might still bounce back after forming double bottom at 10,300.

I'm watching price action carefully and this is one of the possibilities. Happy trading :)

Kommentera:

Price did bounce from double bottom as expected.

We're now nearing 50 day MA and downward trend line. This will act as a resistance.

If you've opened longs, it's probably a good time to close and reopen once 50MA and downward trend-line is bypassed.

Kommentera:

It has failed to touch/break resistance and falling again.

The support at 10,300 is broken after double bottom.

I'll close this idea and publish a new one when we've a clear long/short signal.

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