Bitcoin is showing signs of a potential double-bottom formation on the 3-day chart, according to analyst SuperBro, while short-term liquidity analysis from analyst Kaz points to a possible rejection near $63,200. The technical setup suggests BTC could attempt a move toward $108,000 if it reclaims the $82,000 resistance zone, though Kaz warns that clearing stops above $63,200 without sustained momentum may trigger a pullback below $60,000. The double-bottom pattern has formed with Bitcoin testing support near the same area that held earlier this year, with RSI showing possible bullish divergence as price approaches lows while momentum maintains a higher structure.
Bitcoin Forms Double Bottom Pattern With $82K Resistance Target
Bitcoin may be forming a double bottom on the 3-day chart, with analyst SuperBro stating a move above $100,000 in Q4 could trigger heavy FOMO and panic buying. The chart shows BTC attempting to form a second bottom near the same support area that held earlier in the year.
The key resistance area sits near $82,000. A move back above that level would strengthen the double bottom setup and suggest BTC is moving out of its current bearish structure. The projected path then points toward the $108,000 area.
The RSI also shows a possible bullish divergence, with price pressing near lows while momentum holds a higher structure. For now, the setup depends on whether Bitcoin can hold the current support area and reclaim the $82,000 zone.
Analyst Warns $63K Liquidity Sweep May Trigger Rejection
Bitcoin is pushing into upside liquidity as short positions come under pressure, but analyst Kaz says the move may still end with a rejection above $63,000. According to Kaz, price is clearing upside liquidity and forcing shorts out of the market, with many stops placed above $63,200.
The $63,000-$63,200 area is the key zone to watch. A move into that range could trigger more stop losses and create a final upside sweep before sellers step back in. However, Kaz does not see the move as a clean bullish breakout yet. Instead, Kaz expects Bitcoin to reject after the liquidity sweep and pull back toward sub-$60,000 levels.
Kaz said unusual price action is possible over the weekend, and he is watching for a short-term scalp short above $63,000 if the setup develops. The chart points to a liquidity-driven move rather than a confirmed trend reversal.
FAQ
What is the double bottom pattern Bitcoin is forming?
Bitcoin is attempting to form a double bottom on the 3-day chart, with the second bottom testing near the same support area that held earlier this year. The pattern includes key resistance at $82,000 and a projected target of $108,000 if Bitcoin clears the neckline.
Why does analyst Kaz expect a rejection near $63,200?
Kaz identified a cluster of upside liquidity and stop losses above $63,200. He expects Bitcoin to clear these stops in a liquidity sweep but then reject and pull back toward sub-$60,000 levels, as the move is driven by stop-loss clearing rather than a confirmed trend reversal.
