Bitcoin painted a ugly double bottom pattern, it had a decent little breakout then failed, with a bearish retest under the neckline (general pattern failure).
We managed to turn around pretty quickly with a rounded bottom pattern (breakout target of which is marked on the chart) if we can hold this previous double bottom neckline as support id expect BTC to continue up to the grey area now (the weekly orderblock) where we can see BTC attempt to put in a higher high in the current smaller timeframe swing structure, or get rejected into a possible sell off which may lead to a double top pattern.
Looks pretty bullish to me in the short term, very important to pay attention to these swing structures and see if we put in a HH here then HL a early rejection without painting that HH can lead to another sell off which is most likely from the grey area
We managed to turn around pretty quickly with a rounded bottom pattern (breakout target of which is marked on the chart) if we can hold this previous double bottom neckline as support id expect BTC to continue up to the grey area now (the weekly orderblock) where we can see BTC attempt to put in a higher high in the current smaller timeframe swing structure, or get rejected into a possible sell off which may lead to a double top pattern.
Looks pretty bullish to me in the short term, very important to pay attention to these swing structures and see if we put in a HH here then HL a early rejection without painting that HH can lead to another sell off which is most likely from the grey area
The blue support area at the bottom a close under that and we can probably see some blood here.