BTCUSD: Double bottom retracement leads to bullish flag breakout
BTC printed a double bottom on 4H and regained the structure. Looking at the daily chart, the entire recovery leg is wrapped inside a bullish flag – a continuation pattern that typically heads in the direction of the previous rally (higher).
4H setting — double bottom
Entry: 61,279.90
Stop: 60,713.25
Target: 63,546.48
Risk: Reward: ~4R
The price has already recovered above the neckline here, so this is a confirmation and not a prediction.
Daily – Bullish flag
The bounce from the double bottom is now consolidating to form a narrow flag on the daily chart. A confirmed break above the upper trend line indicates a calculated move of ~34.8%, putting the target near 85,000.
Invalidation
4H Candle: Closing below 60713.25 invalidates the double bottom theory.
Daily: A breakout through the lower pennant trend line (rather than an upward breakout) invalidates the continuation setup and opens the door to a deeper rejection scenario (-20%+ pullback down), which remains on the table until the pennant is resolved.
prejudice
Bullish above 61,279.90 on the 4-hour structure, with a daily flag break as confirmation of the larger move.




