Adam and Eve double bottom for BTC

Now I am not suggesting this is the most likely outcome, I'm just posting this to track the possibility of a larger scale Adam and Eve double bottom, which BTC tends to be a fan of. This would provide a scenario in which this bear run bottoms out without explosive volume, as was seen in the $5900 bottom in February. Volume matches as well, usually higher in the formation of the left cup. The right cup, or Eve does not usually form new lows, and in my experience BTCUSD tends towards 0.5 and 0.618 fib retraces. Confirmation would be on breakout above resistance ($11,500) on high volume.



Reference:
thepatternsite.com/aedb.html

Kommentera:

Could still happen. Sideways action -> recovery.

Kommentera:

Looking better by the day...