foebi

BTC is making a double bottom

BITSTAMP:BTCUSD   Bitcoin / U.S. Dollar
Hey everyone, welcome to a new market update.

Please trade safely.. BTC is leading and can make unexpected moves at the moment.
If BTC starts to get bullish , I will start to make updates about the altcoins.

Sooo.. BTC is holding support around 48K .
And we see something bullish . BTC is making an double bottom!

A double bottom is a bullish reversal pattern, which is formed in a downtrend.
As the the name suggests, the pattern consists of two bottoms, one after the other.

As you can see BTC has made a double bottom on the 1H.
If we reclaim 51500, we will be short term bullish . I expect that we will continue to 55K and then bounce back.

I hope everyone has bought the dip!
This is a healthy correction...

Be fearful when others are greedy and be greedy when others are fearful...
If you make the right moves in times like these, you will be rewarded!

Follow me to stay updated so you can make the right moves in these times.

Comments

Thanks for your insight, let's hope it holds the 48k support
+2 Reply
@richielee14 let’s hope! We went below 48K today but BTC reclaimed it fast... so we didn’t broke it yet. If we can hold this, we need to break 51500 to be bullish. Let’s go!
Reply