It looks like the price of Bitcoin is forming a Double Bottom pattern on the daily chart, which would be a Bullish Pattern.
We are in a pretty bad Macroeconomics environment, but if this pattern plays out, the target will be around $25.000. And this could have a more bullish effect on the price of Bitcoin mid- to long-term.
The break-out target would also be in-line with the 1.618 Fibonacci level.
We are in a pretty bad Macroeconomics environment, but if this pattern plays out, the target will be around $25.000. And this could have a more bullish effect on the price of Bitcoin mid- to long-term.
The break-out target would also be in-line with the 1.618 Fibonacci level.
