This study, by one of the top analysts at Tradingview, is designed to show the duration of a trend when a double bottom is reached and followed by a bullish rally.
Bitcoin hit a low three days ago, and as we are all watching, the third day saw the biggest bounce since July 27:
Based on the cyclical double bottom effect, we can state that the latest low is the second top bottom of the trend since June 18th. What is this effect? It seems that this is not just a theory, but a pragmatic phenomenon that has been observed at the bottom of every cycle throughout the history of Bitcoin.
The double bottom formed this week confirms this thesis, based on the three previous cycles of Bitcoin. Do you agree with this perspective of Bitcoin movement? Or do you think that the rate will go down?