Bitcoin and the Double Bottom Reversal Pattern

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.

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