Bitcoin

double bottom in play if symmetrical triangle doesn't pan out

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the symmetrical triangle/ bull pennant appears to be losing some steam here but if it doesn't pan out the bulls still have another chance to continue the uptrend with a double bottom in play around 8886(as shown here in purple). A retest of this zone would make a lot of sense since there is currently a gap on the CME futures chart around that zone that needs to be filled...and if price action were to retest this zone soon enough and indeed get strong bounce support there we could trigger the double bottom while still validating both the symmetrical bull pennant and the 1 day chart bull flag (in green) at the same time. We can see a nice bullish confluence here between the breakout targets of both the double bottom & the symmetrical triangle (pennant not factored in) so hopefully that increases the probability for a bullish validation.

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