The number one question on the minds of investors is whether an asset has touched its buttocks after being in a sustained decrease trend for a long time.
A recent price action suggests that Bitcoin (BTC) may have found its bottom just above $ 76,000 on March 10. This decision has formed a model recalling the basic previous events in recent history.
In this current correction, Bitcoin dropped by 30% of its $ 109,000 summit reached on January 20. After reaching a hollow on March 10, he recorded higher stockings on both sides of this date, or $ 78,000 on February 28 and just more than $ 81,000 on March 31 – forming a triangular background.
A similar scheme took place during the Yen Carry trade relaxed in August 2024, when Bitcoin has the bottom of $ 49,000 on August 5.
Another example occurred during the launch of American FNB bitcoin FNB in January 2024. Bitcoin experienced a 20%correction, reaching a hollow just below $ 40,000 on January 23, with higher stockings on both sides of this date.
Omkar Godbole, editor -in -chief of Coindesk Markets, also underlines the signs that Bitcoin could be overflowing, noting the emergence of an upward structure. “The latest model, indicating a lower low passage to the highest stockings and signifying the depletion of the seller, resembles Bothing patterns observed in August and at the beginning of 2024”. ».
“There are reasons to consider the possibility of a renewed bullish impulse – although, as always, external risks like Trump’s prices could disturb the trend,” said Godbole.
