Have been watching a double bottom pattern forming on Stochastic RSI 1 Day timeframes across many major crypto with over bought condition on the weekly. The weekly charts are cooling off while a nice double bottom is forming in oversold conditions on the daily. BTC is a clear example (see idea below). I redrew the fib to the local trend and we are currently looking to retest the .618 resistance. Breaking above that would most likely give the moving averages the momentum to golden cross (blue 50 day over black 200). Declining volume so we could see a large spike to move the market in either direction. If a bearish shituation* plays out then I see strong support around 0.253-0.255 area. A break above the .618 would mean a retest of the resistance around 0.315.
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Not Financial Advice.
BTC Double Bottom ---> Idea Below
Please Like & Comment ------> Lets Be Friends **even if we disagree**
HAVE A GREAT DAY. LIFE IS A GIFT.
Not Financial Advice.
BTC Double Bottom ---> Idea Below
