Jack's Trading Room | BITUSDT H1 Short-term Double Bottom Pattern

Currently, we are looking at the one-hour candlestick chart of BITUSDT, where the chart shows that BIT has broken through the descending resistance trend line formed by the previous high point. After the breakthrough, there was a short-term pullback, forming a lower right foot (2.157) below.

Currently, we are looking at the one-hour candlestick chart of BITUSDT. The chart shows that BIT has broken through the downward resistance trend line formed by the previous high point, and after the breakthrough, a short-term pullback occurred, forming a lower right foot point at 2.157.

Above, attention can be focused on the previous high of the neckline at 2.278. If the candlestick closes above the neckline resistance at 2.278, the conditions for buying on a double bottom pattern can be considered met.

• The stop-loss point can be set at the lower right foot point of 2.157
• The take-profit point can be set at a price that satisfies the rally of the double bottom pattern, Fibonacci sequence 2002.434.

In recent days, the cryptocurrency market has experienced large fluctuations. It is recommended that operators strictly implement risk control and avoid high leverage and high contract volume operations to prevent additional losses caused by volatile market conditions. This article represents personal opinions. Readers are advised to consider carefully, as cryptocurrency trading may pose risks to your capital.

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