Bitcoin: Double Bottom Formation-Will the Price Go Up?
The bearish scenario has fortunately not pushed through my price target of around 40k to 41k, although the price has only touched the 44k region for a brief time.
Candlesticks are sitting just on top of my key support level and is slowing coming towards the 200 EMA and now touching my my key zone area.
It looks like a new pattern is forming with a double bottom formation and if it breaks toward the upside, our next possible price target will be in in 58k region. This should give us around 14% gains at the point of breakout.
But for now, with the RSI and volume oscillator indicators, it looks like we still have a sideways movement/ consolidation.
Level I would buy: 52000
Only during point of breakout alongside with good volume (volume oscillator) and also looking for oversold indicator (RSI).
I am open for feedback, suggestions and advice thanks!
Candlesticks are sitting just on top of my key support level and is slowing coming towards the 200 EMA and now touching my my key zone area.
It looks like a new pattern is forming with a double bottom formation and if it breaks toward the upside, our next possible price target will be in in 58k region. This should give us around 14% gains at the point of breakout.
But for now, with the RSI and volume oscillator indicators, it looks like we still have a sideways movement/ consolidation.
Level I would buy: 52000
Only during point of breakout alongside with good volume (volume oscillator) and also looking for oversold indicator (RSI).
I am open for feedback, suggestions and advice thanks!