A double bottom is a technical analysis chart pattern in forex trading that indicates a potential reversal of a downtrend. It forms when the price hits a low, bounces back, and then falls to a similar low before rising again.
The double bottom pattern is characterized by:
1. Two distinct lows (the "bottoms") at roughly the same price level 2. A peak in between the two lows
This pattern suggests that the price has found support at the lower level and is likely to reverse, moving upwards. Traders often look for a breakout above the peak between the two lows as confirmation of the reversal.
🧐Over the next 50-100 days, BTC may show a large increase in price.
•This surge will correspond to the cycles of price changes after halving, which happens every four years.
•Previous Bitcoin halvings caused a rise to new historical highs a few months after the supply was reduced and new coins were issued.
❗️This year there is no reason to believe that the situation will not repeat itself.
💡After the US Securities and Exchange Commission (SEC) approved Bitcoin-based exchange traded funds (ETFs) in January 2024, BTC reached a new historical the maximum was at the level of $73,750.
•After halving, the cryptocurrency did not show any significant results, however, they can be achieved in the last quarter year. Over the past seven days, Bitcoin has fallen by 8.5%, and over the past 30 days – by 10.47%.
•Relative to its historical maximum, BTC lost 20.13%, and its maximum in August reached $65 593.24.
Tether plans to double its workforce to 200 by mid-2025, focusing on expanding its compliance team.
Despite its small size, Tether remains a financial powerhouse, generating $5.2 billion in profits in the first half of 2024.
The company continues to enhance monitoring tools to prevent illicit activity involving its USDT stablecoin, which now commands nearly 70% of the stablecoin market with a $115 billion supply.
A trading journal is a way to track your trading performance by recording your trades which you can later review to improve your trading activity by learning from both your successful and not-so-successful trades.
Tracking your progress allows you to study mistakes that you have made when opening or closing a position.
Have you Thought about why you are not able to repeat successful trades? Come to think about it, Have you figured out why the trade did not go in your favour?
When you keep a good record of your trades, it gives you the opportunity to review the trades and improve.
Many will ask do need to record or keep track of all trades or wining trades?... You need to understand what makes you win the trade and repeat that strategy if necessary. If the trade did not go well, know and understand why it did not go well and change the approach.
🔹Free access to the financial system for everyoneFiat currencies like dollars and euros and all that are managed by Central Banks with unclear and non-transparent rules.
Whose interests are they serving? 🤔In recent years, an unprecented amount of money was printed. And they might start the printing again.Nowadays, you need to make 15% more every year to outrun the money printing press.
But that's only possible for the rich, while average folks in traditional markets don't have that chance (unless they get lucky).Bitcoin, as the most popular and largest (for now) crypto, solves this issue. It has a max supply of 21 million, which is part of its protocol – no more Bitcoin after that. Sure, it can be changed, but it's a super complicated, and transparent process that needs approval of loads of participants.
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