Bitcoin (BTC) has continued to plough a furrow to the downside, dropping below $108,000. However, the number one cryptocurrency is now heavily oversold and therefore a reversal makes perfect sense. When could this potential reversal arrive, and what are the upside targets?
Has $BTC formed a double bottom?
Source: TradingView
The odd pattern that had been forming since mid-July has become two descending channels. First, the gently sloping one that found a bottom in early August, and now this steeper descending channel that just might have found a bottom where the price is now. In fact, the $BTC price action might have made a small double bottom reversal pattern, similar to the slightly bigger one that marked the bottom of the previous descending channel. The green arrow traces a possible path for this next potential recovery.
The 4-hour Stochastic RSI indicators are coming down and should have bottomed out by the end of the day, or could even start reversing now. Therefore,
We współpracy z: https://cryptodaily.co.uk/2025/09/bitcoin-btc-nearing-a-bottom-prepare-for-a-potential-reversal
