on October 6th ๐
- A textbook double bottom pattern forms, with a potential breakout above $123K ๐
- Moving averages align, with price sitting above MA(5), MA(10), and MA(20) ๐
- MACD shows bullish momentum building, with a potential crossover above zero ๐
*Whatโs Next?* ๐ค
- Short-term target: $128K ๐
- Medium-term target: $135K-$140K by year-end ๐
- Downside risk: Loss of $118K neckline could lead to retest of $105K ๐ก๏ธ
*Technical Analysis:*
- Double bottom pattern confirmed, with price above neckline ๐
- Volume shows accumulation, with blue bars on up-days getting thicker ๐
- Centralized Exchange Bitcoin Balances Hit Multi-Year Lows, reducing selling pressure ๐ค
*Your Turn:* ๐ค
- Are we blasting off to $128K and beyond? ๐
- Or is this just another bull trap? ๐ก๏ธ
- Share your thoughts and let's navigate this market together! ๐ฌ #BTCBreakout #MarketUpdate #CryptoAnalysis #TechnicalIndicators #BitcoinFuture