Bitcoin's soaring to $98K, dominating the crypto market like never before!
While BTC flexes its muscle, many altcoins are struggling to keep pace, lagging behind in gains. The market is firmly under Bitcoin's spell, with its dominance hitting new highs.
Share your thoughts below—what’s driving this Bitcoin boom, and which altcoins are you still bullish on?🤔
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$PERP 1Hr – Double Bottom Formation Signaling Potential Reversal
$PERP is showing a Double Bottom on the 1-hour timeframe, often seen as a reliable bullish reversal pattern after a downtrend. The two distinct troughs (Bottom 1 & Bottom 2) suggest selling pressure is weakening, while the neckline at $0.33 marks the critical breakout point.
Key Levels to Monitor:
Support Zone: $0.28 – $0.29 (base of the pattern)
Neckline Resistance: $0.33
Breakout Confirmation: Sustained close above $0.33 with volume
A confirmed breakout above $0.33 could lead to a measured move toward $0.38, mirroring the pattern’s height. However, failure to break could mean further consolidation or a retest of $0.30.
Pattern reliability increases with strong breakout candles, so keep this chart on your radar.