Is this the Bottom for Bitcoin?..
In my previous Bitcoin analysis we saw price form a head and shoulder pattern on the daily TF which gave us good short opportunities. I also was looking at price going down as low as 37k provided it broke the current demand zone. So as you can see currently price has broken the shoulder line of the Head & shoulder pattern but has failed to break the Current demand zone 3 times if you look on the 1HR TF. We also see price forming a double bottom reversal pattern as a bullish tweezers candlestick pattern on the 1HR TF.
I currently have a long position at the 50% of the bullish tweezers. I am taking a risk on this trade based on my analysis. What do you think? Could this be the bottom or is 37k a better bottom?
I currently have a long position at the 50% of the bullish tweezers. I am taking a risk on this trade based on my analysis. What do you think? Could this be the bottom or is 37k a better bottom?
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