Bitcoin Price Forms Double Bottom After Crash, Is A Bounce To $112,000 ATH Possible?
According to a TradingView Crypto analyst called “Tradingshot” Bitcoin price has formed a dual bottom Model is expected to reach a new historical highest (ATH) $ 112,000. After the cryptocurrency collapsed seriously, this potential trajectory transition briefly pushed it to less than $ 100,000.
The price of Bitcoin has received strong support at the dual bottom
Bitcoin price collapsed Earlier this week as a Chinese artificial intelligence (AI) model below $ 100,000 Deepseek It is popular in the United States and global investment markets, surpassing Openai’s ChatGPT. Although this decline is shocking, it triggered Sell ​​a lot of saleBitcoin managed to restore more than 50 % of losses in a short period of time.
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After this severe collapse, the transaction reveal The Bitcoin uses two powerful support lines to rebound at a dual level to prevent further prices from sliding down. The analyst shared a detailed price chart, which highlights several double bottoms, including a 4 -hour average of 4 hours (4H MA200).
one Dual -bottom mode It is the formation of the chart, indicating that the potential trend has dropped from falling to one upgradeEssence It is characterized by the two continuous lows around the same price level and create W -shaped motion.
View the chart, the price of Bitcoin is in Rising channelIndicate a general upward trend. The 4H MA200 on the orange trend line is a strong level of double bottom support. Bitcoin has tested it for the first time within 12 days.
TradingShot also mentioned the “pivot trend line”, of which Bitcoin previously faced resistance, starting from it ATH in December 2024 17,2024. Now, this trend line acts as the support line of cryptocurrencies because its price has been reversed near it. It is worth noting that Bitcoin almost reaches the bottom of the January Channel, indicating the potential Key support areaEssence This is similar to the December model, cryptocurrencies rebounded from the same support and hit the new ATH.
The key resistance of the 4H MA50-Breakthrough or refusal?
In the tradingshot chart, the 4H MA50 indicates that the dynamic resistance level of cryptocurrencies is the dynamic resistance level of cryptocurrencies. At present, Bitcoin is lower than this Moving averageThis means that a breakthrough beyond this level may trigger more upward space.
Analysts predict that if Bitcoin exceeds 4H MA50, it is possible Continue to see the upsurge The price is between $ 110,000 and $ 112,000. This upsurge meeting Mark a new ATH For Pioneer cryptocurrencies, the highest price of Bitcoin exceeds $ 108,000.
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In the case of supporting this bullish, TradingView analyst emphasized The relative strength index of Bitcoin (RSI)It shows the super -labeled area marked on the green circle on the chart. Whenever RSI drops to less than 30, Bitcoin will rebound, indicating that a strong rebound may occur.
On the contrary, analysts predict Bitcoin’s decline scene If it faces the rejection of 4H MA50. He predicts that Bitcoin can re -examine the $ 98,000 at the bottom, which is observed on December 23 and January 13. Deeper correction If this cryptocurrency continues to decline, the cryptocurrency is expected to crash to $ 96,000.
Charts from special images from IStock, tradingView.com
