Bitcoin / US Dollar Perpetual Inverse Swap ContractBitMEX
Description
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BTCUSD is forming Adam & Eve double bottom pattern on daily chart. As you can see, the first attempt to break 11.7-11.8k failed which caused this double bottom to form. Overall, the pattern suggests a bull run to the neckline but not necessarily higher. Key to understand with Cup & Handles, double bottoms, W-bottoms, Head & Shoulders, etc. is that price needs to break the neckline to support a further move.
I suggest buying the dip here around 9200 USD and keeping the long position until the neckline or higher.