 Bitcoin is forming a double bottom pattern. What does this mean exactly? It means that if this pattern plays out, we would see a complete reversal of the price that could take us all the way back up to $36,000. So into this video, we will break down exactly what a double bottom pattern is and how it works. We will also talk about why $36,000 is our target for Bitcoin with this pattern and exactly how accurate this pattern is in a study done with 10 years of data and over 200,000 patterns tracked. Also stay to the end for a special bonus that you won't wanna miss. Let's go ahead and dive right into today's video. Remember guys that this content is for educational purposes only and this is not financial advice. Always do your own research before risking any of your money. And as a disclaimer, I've been invested in Bitcoin since 2016. So what exactly is a double bottom pattern? The double bottom is one of the most common reversal price patterns. It is also one of the most accurate price patterns. So as you can see in this example here, we have a bottom. This would be considered the first bottom. Then we have somewhat of relief rally. This creates the neckline. Then we have the second bottom here. Now in order for the double bottom pattern to play out, it needs to break above this neckline as you guys see here. Once the break happened, as you see in this example, the target of this pattern is the same distance from the low to the neckline. Once the breakout occurs from the breakout point to the top, as you guys can see here. Here's another example of what the double bottom looks like. You see we have the first bottom. We create the resistance line or the neckline, second bottom and then we have a breakout with of course a test of the breakout which happens very common as well before it continues to the upside. So now if we come back here to our chart, you can see that we have the clear trend to the bottom. We have a clear bottom here. Then we have a rally back up which sets up a resistance and a neckline and another drop back down into the same range as the first bottom creating the second bottom. If we measure the low to the top of the neckline, it gives us our potential target here once the breakout occurs which gives us a price target of about $36,000 if this were to play out. We'd be looking for something like this where we retest this neckline here, then get a breakout. I'd imagine we probably retest this breakout and kind of continue up all the way to reach our target. This is just an idea of what it could look like but you see we have the break of the neckline here. We test this Fibonacci level which is a previous support back here. Retest the breakout here, breakout here and retest another previous resistance up here around the $31,000, $32,000 range. And then finally we get to our target based on the low to the neckline which also happens to be a Fibonacci level. That if we zoom out a bit, you can see that same exact level has been important many, many times over. You can see we actually, last time we dropped this low when we broke above that level, it ended up sending us to our necks and our current all-time high. So you can see here the current neckline is sitting just about around $25,000. That was the high that we set last time after our first bottom. Now we still haven't seen a rally back up after our second bottom so that's currently what we're waiting for, what we're expecting. And this is of course all based on this chart pattern. Things of course can change depending on events outside of technical analysis. So rate hikes, inflation, wars, all things outside of technical analysis could of course make this double bottom invalid. But as we currently stand, it is a valid structure and for it to come into play we must break above that neckline which is sitting at $25,000. So now I've told you exactly what the double bottom pattern is and how it works, where the neckline is where we must break out in order for this pattern to be valid, exactly how we found our price target on a breakout above the neckline. And now I wanna go over what the odds are exactly of this playing out, the success rate and basically the probability of success with these double bottom patterns. So if we look at a study that was done with 10 years of data in over 200,000 price patterns tracked, it shows that a double bottom pattern has a 78.55% chance of success. So although it wasn't the most successful price chart pattern in this study, it is one of the highest with that 78% success rate. And if we do test that neckline and fall right back down to support, there is something called the triple bottom pattern as you guys can see here. And in that instance, the percentage for success actually goes up, moving us from 78% to 79%. So if we don't break out this time and fall back to support, as long as we hold, then the triple bottom pattern would be in play at that point. So with this information, what can you do to profit based on this? So there's a few things you can do. The first one is buying here at support. This is the current bottom area. Anywhere between 18,000 to $20,000 is a good time to add to your long-term position. Anything you add here should be probably locked up until the next bull run, which I expect around 2024. So any extra cash that you have lying around that you're doing nothing with that you can lock up for the next two to three years, this is the range where you wanna be adding those funds. Now the next thing that I'm also doing is opening long positions for the short term with leverage in this range. So now you don't just wanna open one entry here around 19, you wanna have multiple entries all the way down to about $18,000 and probably have your stop loss somewhere below $18,000 range. Then you also wanna have take profit areas set up on the way up. So you can find those take profit areas by looking for previous resistant zones here. So we can see here, this was a key resistant zone. That's around 21,500. You can see up here another resistant zone. We can see some support areas here. That's between 22,500 up to around 24,000. Of course, we have the neckline here that is going to be a resistance, that's around 25,000. Another area of interest right here, that's around 21,500 again. And right here, this is around 22,000. So you can use all of those basically to set up different take profit areas as the price bounces back up. And if you just wanna open a leverage position for the long term, you can also do that and use these long term resistances like the neckline, the Fibonacci level up here, which is around $29,000, $30,000. And then our main target up here, which is around $36,000. You do have to hold a bit longer because we don't have a time frame on how long this will all take, but it definitely would pay off, especially if it hit all our targets here. And the final way that you can use this is remember that Bitcoin is the king of all of crypto, right? Of all the markets. So when Bitcoin goes down, the rest of the crypto market goes down. When Bitcoin goes up, the rest of the crypto market also goes up. So if this double bottom pattern were to play out, that means that the rest of the crypto market would also go up. And you know that outcoins always over exaggerate Bitcoin's move. So if Bitcoin were to go up to $36,000, which is pretty much a 100% return from current prices, that means that outcoins will probably do a 2, 3, 4, 5X, maybe even more in that same period of time. So you wanna make sure that you're loading up your long-term bags for the next two to three years here at these levels. And you can even start opening up some leverage trades as well, some small positions and letting them ride up as well if this double bottom pattern plays out. Where you see we have the break of the neckline here. We test this Fibonacci level, which is a previous support back here. We test the breakout here, breakout here and retest another previous resistance up here around the $31,000, $32,000 range. And then finally we get to our target based on the low to the neckline, which also happens to be a Fibonacci level. That if we zoom out a bit, you can see that same exact level has been important. Many, many times over you can see we actually last time we dropped this low when we broke above that level, it ended up sending us to our necks and our current all-time high. So you can see here the current neckline is sitting just about around $25,000. That was the high that we set last time after our first bottom. Now we still haven't seen a rally back up after our second bottom. So that's currently what we're waiting for and look out for as you load up your bags here for 2023, 2024, 2025. There's a lot of potential out there once Bitcoin does break above and start running back up. Now if you guys are interested in opening any of these leverage type positions, I personally use Bybit to open these positions. I have a link in the bottom in the description where you can earn up to a $4,000 bonus on your deposit. If you wanna know exactly what trades I'm taking, what I'm buying, when I'm selling, in real time, then you need to get into my mentorship program. In this group I share every single trade that I take. I break it completely down for you as you guys can see in this example with the entries, stop loss, and exactly where I'm taking profits. You can see I gave this trade on the third of this month and we were able to hit on our first take profit area and our second one as well as you can see the trade in total took about three days. We also break down exactly what's going on every day in the market and what might affect the market. Like for example, this week we have the CPI reports which come out today. I teach you guys how to trade the right way, how to use leverage, how to position size correctly, everything that you will need to know so that you never blow up your account again. For those who watch till the end today, you can get 25% off on your first month by using this code 25off. So just type the numbers 25 off all capital letters. You'll get 25% off on your first month in the group so you can try it out for yourself, see if it's a fit for you. So if you guys are interested, go to the link in the description below. Crypto is a once in a generation opportunity and the way that it is right now, the easy opportunities to make money will not last forever. So if you guys are interested, sign up in the link in the description below. If not, I recommend you to watch this video on the screen right now that will show you exactly what I'm buying during this bear market to 10X your portfolio in the upcoming bull run. Thank you guys so much for watching. I'll see you on the next one. As always, peace and love.