24,800 is not the higher low

2023년 9월 12일

Bitcoin is consolidating and looks like its making a double bottom , but bitcoin is very tricky and likes to trick new traders. Double bottoms and double tops do not have to be exactly equal. This looks like a perfect double bottom setting up but something seems wrong. Since there has been barely any price action at 24,800 this tells me that 24,800 is NOT the bottom. I have drawn a purple box where there is price action and makes more sense for where the higher low will be.If bitcoin goes into this purple box and holds support i will still consider it a double bottom.My theory is that they will release bad news as bitcoin is going down to my purple box and people will reach max pain causing people to sell.