Nobody's paying attention to this in $BTC, but the most important detail on the chart isn't the price-it's that the formation is still on the table.
A lot of people looked at the recent drop and threw the scenario in the trash. Yet the double bottom formation hasn't technically been broken yet. Here, the real decider won't be daily moves, but weekly closes.
Right now, price is trying to hold on in a strong support zone. If buyers can defend this area, in the first stage, the 70k and 78k resistances could come back into play. But the real story will start above these zones.
Meanwhile, while everyone's talking about downside scenarios, the chart is still holding a potential double bottom structure. Big moves in the market usually start from places where hope is fading.
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As long as the weekly close stays above supports, the formation remains valid. That's why you need to focus on the levels, not panic.
The question that needs to be asked now is this:
Has the formation really broken down, or is the market shaking out weak hands to prepare for a new move?
The weekly close will give the answer.
#crypto #altcoin #bitcoin #btc
▲ Warning: My charts are for educational purposes. They do not contain investment advice in any way. This is not an ad. Cryptocurrencies are risky assets. Do your own research, friends.$BTC
