I don't have a pattern to share on this one. The telltale signs of a bounce are right here. Pin bar on a new low, followed by (a yet to be confirmed) bullish engulfing candle. Also, importantly, the RSI is scraping the lows.

So what to do with this information? Well, hopefully you've noticed that this chart is on the Zcash to Bitcoin valuation. While I think there are good cases to be made for Zcash's utility going forward, I want to steer clear of discussing narratives in chart analysis. To be honest, I've yet to find any meaningful correlation between market prices and use value of commodities.

But if you're following, I'm guessing you have heard of Bitcoin, and are in no small part following a technical analysis blog because you are curious about where the price may be going.

Well this chart is not going to tell you a single thing about the price of bitcoin. I do think it potentially tells a lot about the potential to get more bitcoin however.

When a bounce follows a capitulation off support from a price range, it is common for the subsequent rally to at the minimum approach the previous range and test it as resistance.

On the chart we can see the bounce in the 0.0012₿ region, and we can see that ultimately the drop came off of the 0.0026₿.