#BTC's Bullish Pattern: Double Bottom Sets Target at $64k! 📈

May 28

#BTC/USDT forming a double bottom, bouncing from an important trend line, and making a bullish divergence, with a potential liquidity grab around 74k:

---

**Title: #BTC/USDT Double Bottom Formation with Bullish Divergence: Targeting 74k**

**Description:**

**#BTC/USDT Analysis**

**Pattern Formation:**
Bitcoin (BTC/USDT) has recently formed a classic double bottom pattern, a strong bullish reversal signal indicating that the downtrend might be coming to an end.

**Trend Line Support:**
The double bottom is further validated by BTC's bounce from a crucial long-term trend line, reinforcing the bullish sentiment. This trend line has historically acted as a significant support level, providing a strong foundation for the current rally.

**Bullish Divergence:**
Adding to the bullish outlook, #BTC has also shown a bullish divergence on the RSI (Relative Strength Index). While the price made lower lows, the RSI made higher lows, suggesting a potential reversal in momentum.

**Price Target:**
If Bitcoin continues to follow this bullish trajectory, we can expect a significant move upwards. Given the strength of these combined technical signals, the next major liquidity zone is around 74k. This target aligns with previous resistance levels and potential Fibonacci extension levels, making it a logical area for price to reach.

**Key Levels to Watch:**
- **Support:** The immediate support level is the trend line around 48K - 50k.
- **Resistance:** Initial resistance levels are around 60k and 64K, which are critical to breaking for further upside movement.
- **Target:** The primary target is the liquidity grab around 74k, which could act as a significant profit-taking zone for many traders.

**Trading Strategy:**
- **Entry:** Consider entering long positions on retracements to the trend line support or on confirmed breakouts above 64k.
- **Stop Loss:** Place stop losses below the trend line support or recent lows to manage risk effectively.
- **Take Profit:** Gradually scale out of positions as price approaches 74k, adjusting stop losses to secure profits.

**Conclusion:**
With the double bottom formation, support from a crucial trend line, and a bullish divergence, BTC/USDT is showing strong bullish signals. Traders should monitor these levels closely and prepare for a potential rally towards 74k.

Remember to manage your risk and stay updated with market conditions as Bitcoin continues its upward journey. Happy trading!

---

**Chart Notes:**
- Highlight the double bottom pattern.
- Draw and emphasize the important trend line.
- Mark the bullish divergence on the RSI.
- Indicate key support and resistance levels.
- Plot the target zone around 74k.