According to a TRADINGVIEW cryptographic analyst called “tradingshot”, The Bitcoin price has created a double bottom The pattern and is on the right track to reach up-to-date all time (ATH) in the amount of USD 112,000. This potential change in the trajectory will occur after the cryptocurrency experienced a stern price disaster, which briefly exceeded it below 100,000 USD.

The price of bitcoins finds forceful dual support at the bottom

The price of bitcoins crashed Less than $ 100,000 at the beginning of this week as a model of artificial intelligence (AI) in China Deepseek He has gained significant popularity on the US and global investment market, ahead of ChatgPT OPENAI. While this inheritance was a shock, causing Huge saleBitcoin managed to recover over 50% of their losses in a low time.

After this stern failure, Tradingshot revealed that Bitcoin has affected a double level of support, using two forceful support lines to prevent further price slipping. The analyst shared a detailed price table, which emphasizes a few double bottom, including one formed near the 4-hour average 200 pores (4h MA200).

AND Double Dolny pattern is a chart formation that indicates a potential reversal of trends from the tank to Uptrend. It is characterized by two subsequent minima around the same price level and creates a W -shaped movement.

Looking at the chart, the price of bitcoins moves within Growing channelindicating the overall growth raise. 4H MA200 on the Orange Trends line is a forceful level of Double Lower Support, which Bitcoin recently tested for the first time in 12 days.

Tradingshot also mentioned the “rotary trends”, in which Bitcoin had previously stood the resistance, starting with it ATH in December 17, 2024. This trend line now acts as a support line for cryptocurrency, because its price turned around. In particular, Bitcoin has almost affected the lower part of the January channel, which indicates the potential Key support zone. This is similar to the pattern in December, in which the cryptocurrency reflected from the same support and hit the up-to-date ATH.

Key resistance at 4h MA50 – breaking or rejection?

In the Tradingshot 4H MA50 chart it is indicated on the blue line, acting as a vigorous level of resistance to cryptocurrency. Currently, Bitcoin trades below this Movable averageWhich means that the breakthrough above this level can cause more advantages.

The analyst predicts that if bitcoins breaks above 4h mA50, maybe it Continue your stubborn rush In the direction of a higher price level from 110,000 to 112,000 USD. This huge growth Select the up-to-date ATH In the case of pioneering cryptocurrency, because the highest Bitcoin price has reached, exceeds USD 108,000.

By supporting this stubborn script, the TradingView analyst emphasizes Relative Bitcoin (RSI) force indicatorwhich shows sold -out areas marked with green wheels on the chart. Whenever RSI falls below 30, Bitcoin tends to reflect, which indicates the potential of forceful reflection.

And vice versa, the analyst forecasted Bears for bitcoins If it is in the face of rejection of about 4h mA50. It predicts that Bitcoin can visit the double bottom at $ 98,000 again, the bear level was observed both on December 23 and January 13. deeper correction It is expected for this cryptocurrency if it is continued down and the analyst provides for a failure of up to USD 96,000.

A distinguished painting from Istock, chart from tradingview.com