Following this severe crash, TradingShot revealed<\/a> that Bitcoin had rebounded at a Double support level, using two strong support lines to prevent further price slips. The analyst shared a detailed price chart that highlights several Double Bottoms, including one forming near the 4-hour 200-Moving Average (4H MA200).\u00a0<\/p>\n A Double Bottom pattern<\/a> is a chart formation that indicates a potential trend reversal from a downtrend to an uptrend<\/a>. It is characterized by two consecutive lows around the same price level and creates a W-shaped movement.<\/p>\n Looking at the chart, the Bitcoin price is moving within an Ascending Channel, indicating a general uptrend. The 4H MA200 on the orange trend line is a strong Double Bottom support level, which Bitcoin recently tested for the first time in 12 days.\u00a0<\/p>\n TradingShot also mentioned a \u201cPivot trend line\u201d in which Bitcoin previously faced resistance, starting from its ATH on December<\/a> 17, 2024. This trend line now acts as a support line for the cryptocurrency, as its price has reversed near it. Notably, Bitcoin almost touched the bottom of January\u2019s Channel Up, indicating a potential key support zone<\/a>. This is similar to a pattern in December, where the cryptocurrency bounced off the same support and hit a new ATH.\u00a0<\/p>\n In TradingShot\u2019s chart, the 4H MA50 is indicated on the blue line, acting as a dynamic resistance level for the cryptocurrency. Currently, Bitcoin is trading below this Moving Average, meaning a breakout above this level could trigger more upside.\u00a0<\/p>\n The analyst predicts that if Bitcoin breaks above the 4H MA50, it could continue its bullish momentum toward a higher price level between $110,000 and $112,000. This massive surge would mark a new ATH for the pioneer cryptocurrency, as the highest price Bitcoin has ever reached is above $108,000.\u00a0<\/p>\n Supporting this bullish scenario, the TradingView analyst highlights Bitcoin\u2019s Relative Strength Index (RSI), which shows oversold areas marked in green circles on the chart. Whenever RSI drops below 30, Bitcoin tends to rebound, indicating a potential for a strong bounce.\u00a0<\/p>\n Conversely, the analyst forecasted a bearish scenario for Bitcoin if it faces a rejection around the 4H MA50. He predicts that Bitcoin could revisit the Double Bottom at $98,000, a bearish level observed on both December 23 and January 13. An even deeper correction is expected for this cryptocurrency if it continues on a downtrend, with the analyst projecting a crash to $96,000.\u00a0<\/p>\n According to a TradingView crypto analyst named \u2018TradingShot,\u2019 the Bitcoin price has formed a Double Bottom pattern and is on track to reach a new All-Time High (ATH) of $112,000. This potential shift in trajectory comes after the cryptocurrency experienced a severe price crash that briefly pushed it below the $100,000 mark.\u00a0 Bitcoin Price Finds…<\/p>\n","protected":false},"author":1,"featured_media":2646,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[60],"tags":[1565,398,1566,1567,65,111,108,73,112,113,70,71,1568,1569,1570,1571,80,81,1572,1573],"class_list":["post-2645","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-bitcoin","tag-4h-ma200","tag-ai","tag-artificial-intelligence","tag-ascending-channel-formation","tag-bitcoin","tag-bitcoin-news","tag-bitcoin-price","tag-btc","tag-btc-news","tag-btc-price","tag-btcusd","tag-btcusdt","tag-channel-up","tag-double-bottom-pattern","tag-moving-average","tag-openais-chatgpt","tag-relative-strength-index","tag-rsi","tag-tradingshot","tag-w-shaped-movement"],"_links":{"self":[{"href":"https:\/\/bitcotasks.com\/blog\/wp-json\/wp\/v2\/posts\/2645","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/bitcotasks.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/bitcotasks.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/bitcotasks.com\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/bitcotasks.com\/blog\/wp-json\/wp\/v2\/comments?post=2645"}],"version-history":[{"count":0,"href":"https:\/\/bitcotasks.com\/blog\/wp-json\/wp\/v2\/posts\/2645\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/bitcotasks.com\/blog\/wp-json\/wp\/v2\/media\/2646"}],"wp:attachment":[{"href":"https:\/\/bitcotasks.com\/blog\/wp-json\/wp\/v2\/media?parent=2645"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/bitcotasks.com\/blog\/wp-json\/wp\/v2\/categories?post=2645"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/bitcotasks.com\/blog\/wp-json\/wp\/v2\/tags?post=2645"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}![\"Bitcoin\"](\"https:\/\/www.newsbtc.com\/wp-content\/uploads\/2025\/01\/Bitcoin-chart-from-TradingShot.png?w=860&resize=860%2C342\")
<\/p>\nKey Resistance At 4H MA50 \u2014 Breakout Or Rejection?<\/h2>\n
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