BTC/USD double bottom & resistance

2019年6月8日

There is a double bottom with a neckline resistance around $8020. This aligns with the long term support bounced off on May 26th and May 30th. We are placing a limit order to buy to open on penetration of the $8020 resistance. The height of the double bottom is $430, so our price target is a projection up of equal magnitude. This gives us a price target of roughy $8450, at which place we will close our position.