Jack's Trading Classroom | BTCUSD Mid-term Double Bottom Pattern
Currently, we are looking at the 4-hour candlestick chart of BTCUSD, where Bitcoin is showing a typical double bottom pattern. The neckline resistance at 35500.0 has not been broken yet.
Table of Contents
Currently, we are looking at the four-hour candlestick chart of BTCUSD. Bitcoin is showing a typical double bottom pattern in the four-hour candlestick chart, with the neckline resistance at 35500.0 yet to be broken.
If it breaks through and closes higher:
- It is advisable to set the stop loss point at the low point of the right foot of the double bottom at 30620.0
- The profit target can be extended to 41271.0 above the range
Alternatively, setting the price Fibonacci sequence at 20042273.5 to satisfy the double bottom pattern increase is also feasible.
In recent days, the digital currency market has experienced significant fluctuations. It is recommended that operators strictly adhere to risk control measures and avoid high leverage and high contract volume operations to prevent additional losses caused by volatile market conditions. This article reflects personal opinions, please read with caution. Trading virtual currencies may involve risks to your capital.
WeChat Official Account: Jack's Trading Classroom
Official Telegram Channel: https://t.me/JackCryptoRoom
Related
- South Korea to Open Cryptocurrency ETF! Digital Asset Committee Discusses Possibility of Spot ETF, Opening Registration for Institutional Exchange
- OKX establishes Dubai headquarters! Will deepen involvement in Dubai's crypto development, support AED trading pairs, institutional derivative markets
- Visa Releases Stablecoin Research Report: Over 50% of On-Chain Transactions Settled in Stablecoins