# Bitcoin looks to be mirroring what it did off of the $3,100 lows 

Back in December of last year, we saw bitcoin bottom around $3,100.

Then, after months of sideways action, we saw what looked a lot like a double bottom as prices retested those lows before eventually starting to move higher again.

Right now, bitcoin looks like it might be creating a very similar pattern.

Check it out:

https://i.postimg.cc/mD6Skm0y/EMT8pre-Ww-AAk-Qsq.jpg

(Source: https://twitter.com/jtjeremybtc/status/1208368397278482437)

As you can see we have what appears to be a double bottom.

# Similar to the last time bitcoin bottomed?

If we compare the price action seen in the chart above with what happened last year around this time, we might get an idea of where we are overall in the bottoming cycle.

And, if things play out in a similar fashion, we are about to turn up very soon:

https://i.postimg.cc/Wpwk5W9W/EMT8prh-Ws-AAs-Jxb.jpg

(Source: https://twitter.com/jtjeremybtc/status/1208368397278482437)

As you can see it looks like we have completed the double bottom and are ready to start moving up again.

I probably don't need to remind you what happened after bitcoin eventually turned up again, but I will anyways.

Bitcoin went on a multi-month rally that eventually topped out around $14k.

# What prices would a similar move bring?

The last time we saw a setup like this, bitcoin rallied over 4x off the lows.

A similar move to what bitcoin did off of those $3,100 lows now would take bitcoin from the mid $6k's to over $25k!

There is no guarantee that same type of percentage move will happen here again, but at the very least the bottoming process may play out in a similar fashion.

And if it does, I expect bitcoin to go on a multi-month rally yet again.

Stay informed my friends.

-Doc