Bitcoin and the Double Bottom Reversal Pattern: Is This a Key Turning Point?
Following the previously outlined technical levels that played out successfully, Bitcoin has now formed a double bottom (W) reversal pattern, a widely recognised signal in technical analysis indicating potential bullish momentum.
Price action has also broken above the $91,000 level, which previously served as resistance and aligns with the neckline of the pattern.
A sustained hold above this zone may confirm the reversal structure and support further upside movement.
If the $91,000 support level remains intact, the next logical target based on pattern projection is the $100,000 zone and potentially beyond, depending on market sentiment and volume continuation.
Trade Plan
Entry 1: Current market price (aggressive positioning)
Entry 2: $92,000
Take Profit: $100,000 and above
Stop Loss: $89,900
Ensure your risk management remains balanced and aligned with your strategy.
If you found this analysis useful, feel free to like, share, and drop a comment below.
I am looking forward to engaging with you here on TradingView.
Following the previously outlined technical levels that played out successfully, Bitcoin has now formed a double bottom (W) reversal pattern, a widely recognised signal in technical analysis indicating potential bullish momentum.
Price action has also broken above the $91,000 level, which previously served as resistance and aligns with the neckline of the pattern.
A sustained hold above this zone may confirm the reversal structure and support further upside movement.
If the $91,000 support level remains intact, the next logical target based on pattern projection is the $100,000 zone and potentially beyond, depending on market sentiment and volume continuation.
Trade Plan
Entry 1: Current market price (aggressive positioning)
Entry 2: $92,000
Take Profit: $100,000 and above
Stop Loss: $89,900
Ensure your risk management remains balanced and aligned with your strategy.
If you found this analysis useful, feel free to like, share, and drop a comment below.
I am looking forward to engaging with you here on TradingView.
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