ethil

BTC going down... double bottom possible?

OKCOIN:BTCCNY   Bitcoin / Chinese Yuan
After failing to break resistance at $300 (or 1900 yuan) in march, BTC resumed the bearish trend , which is now lasting 15 months.
If in the coming 2-3 weeks price reaches january low, there would be the potential for an almost perfect bullish butterfly .
Of course there is no guarantee that BTC will stop there, but I suggest ~$160 or ~930 yuan as a Potential Reversal Zone nonetheless. It'd be at least a great profit taking zone for shorters.
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