🔥 Bitcoin Double Bottom Reversal: Short-Term Bullish Outlook

Around a week ago I made an analysis on BTC where I shared my thoughts on the near-term price movement. The main point was that BTC is more likely than not to see sideways price action, with a clearly defined horizontal support and resistance area.

As of today, BTC went slightly below the last low of $15,600 and is currently seeing a big bullish reversal. In my view, it's likely that this rejection will keep going for a couple of days, targets in blue.

In the longer-term, I'm still bearish. So new lows are to be expected in the coming weeks.

On the other hand, a case can be made for the idea that we have bottomed already. Let's see what the market will bring us in the next few weeks.