Bitcoin: Hope it does it for BITSTAMP:BTCUSD by cozzamara

BTC is going for a deep low but may be forming a double bottom. It's going really fast.

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If we focus we can see that price is not aligned with RSI.
Price is moving slower than RSI.
If RSI stretches and price is supported we may see a nice come back from that low.

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Anyway, I am not a trader and these are only my personal ideas. A double bottom there and at the end of the month would be like a very important statement for me from BTC. I double bottom in such a low position? What could it mean? I am dreaming again...sorry

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Bullish flag will be then completed.

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In a month made the bubble (dicember) in a month it retraces it (january). Sounds nice. February?

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This is last week of the month. Perfect time and setting. lol

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But if I look at the weekly chart I am brought back to reality

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But today is only monday! Yes, and that weekly candlestick may complete a three black craws formation by the way its moving.

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Let's wait and see

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I forgot. In March a lot of deadline of crypto projects are due to be annuonced. It will be a good indicator to see how this new industry is developing.

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BTC is really stretching towards that lower low. I didn't put an arrow on it but is at 9259 more or less

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It come back above 10.500 which is a bullish sign

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I don't think it will end the correction there but let's see. To go there it means that should go to 11K which would be a very bullish sign

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But still has not completed the neckline therefore need to be patient.

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The neckline is that lower low that may be hit if BTC insist going down

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I can see a very nice come back from that lower low if it will ever reach it. lol

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If this is an industry in expansion a double bottom there would be a nice fundament from where to start. Don't know.

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Let's see and be patient.

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Thank you AlanMaster. From you it's an honour. Much appreciated for taking the time to look at it. Thanx

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Ok. It has completed that small correction and resumed its run towards lower lows. Let's see how it moves.

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