The price action is currently forming a bullish double bottom pattern, a well-known technical setup that often signals a trend reversal. This structure suggests that selling pressure has weakened after multiple tests of a key support zone.
double bottom pattern usually appears in the shape of a “W”, indicating strong buyer interest at lower levels. If the price manages to break and sustain above the resistance level, bullish momentum could accelerate sharply.
Based on this setup, a confirmed breakout may open the path for a potential move toward the $4,000 level, provided overall market conditions remain supportive.
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