1033: Bitcoin Double-Bottom Can Spark BTC Rally to $30K Despite 'Extreme Fear'!
Bitcoin News Alerts | Daily BTC Macro Signal · Justin Verrengia
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Show Notes
Bitcoin price double-bottom and then to $30K?
The conflicting upside signal comes from a potential double-bottom pattern on the BTC longer-timeframe charts against the United States dollar. Double-bottoms are bullish reversal patterns that resemble the letter W due to two lows and a change in direction from downside to upside.
Meanwhile, a double-bottom's upside target is found after measuring the distance between the pattern's peak (neckline) and lowest levels and adding the outcome to the breakout point, as illustrated below. In other words, a potential 50% price rally taking the king crypto to the $30K level.
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