$BTC /
Bitcoin: the bear market trend has just formed a double bottom chart pattern, which is a very interesting signal for a price reversal to the upside.
For now, the characteristics are being respected: the price has closed as per chart pattern theory and is currently making a classic pullback on this type of structure.
What we need to watch now is the validation of the pattern. For the logic to hold, the pullback needs to maintain its strength. Ideally, the weekly candlestick should confirm the structure by respecting this key zone. If Bitcoin closes this week above $73,000 and then continues to rally, then there are very high chances we'll see a rebound towards new highs very soon.
Already, if the price holds solidly above major zones like $90,000, for me, the bull run becomes confirmed.
Now, everything hinges on the market's reaction in the coming days.
Because if this structure holds... it won't be a question of 'if it goes up', but are you already positioned?
