Potential Triple Bottom Reversal Scenario BTC/USD (1D)
Updated
Prior trend: Reversal patterns for Triple Bottom Reversal should come from a (long) bear trend
Three Lows: All three lows should be equal, spaced and mark have clear turning points. Lows don't have to be exactly equal.
Volume: Volume levels decline, increase near the lows.
Price Target: Well read for your self;)
Three Lows: All three lows should be equal, spaced and mark have clear turning points. Lows don't have to be exactly equal.
Volume: Volume levels decline, increase near the lows.
Price Target: Well read for your self;)
Comment
We first touched it in the end of May. I though it could've been it already. However, the bulls became weaker and Korean Exchange hack gave the bears the upper hand. Now I'm looking at a max of 6055 for this pattern to emerge. Chances are we're going quiet a bit deeper if we cross that. Let's wait and see.Comment
If the bulls get in some heavy volume within the 'triple bottom box' and price moves up, I'll still not buy this. I'll be waiting for a cross of the downwards sloping purple trend. Overall I'm bullish on Bitcoin on the longterm. On the short term this might get ugly. I'm Hodling anyways.
Comment
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