Sr.Botones
Long

Formation of a "Double-bottom" figure

MTGOX:BTCUSD   Bitcoin / U.S. Dollar
574 3 0
After today's breakdown to the 88$ bottom and considering the size of the little bullish trend after the minimum of 68$ of the previous days. The next days we could see the formation of a double bottom chart figure, an indicator of a bullish changing trend. So, previously, we would see the chart go down again to the 68$ as a bottom to finally rise again as a periodic bullish waves to prices even above of the 120-130$ with 140 as a final top and breaking down again.

The double bottom will occur in the first week of august, and the raise will occur after that in a 2-3 months period range
donlopez
3 years ago
You may have reason, but i think we will go on like 2011 bubble, so i think between september-november we will go to 30-45 and then we will start to grow. just my thoughts. THANKS.
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Sr.Botones donlopez
3 years ago
Yes, you are completely right, but I'll tell you more, in future we will suffer even more higher bubbles than 2011's one. 30-45 bottom in my opinion its a very risky speculation in order that if we draw a progressive-ascendant line following the ascendant line between Jan-Feb 2013(max-mins) along the time. This is the period that I consider of a natural grow (not an exponential-bubble one), and you will find that the min value which correspond to Aug 2013 is precisely the point of double-bottom formation that I am suggesting, so supposing that, and taking into account that this could be the "neutral" value of bitcoin at this point... something very huge needs to happen to decrease the value 2/3 of its total, the thing needs to be very VERY huge if you are assuming that you are taking into account that the point of breakdown will be at 140$.

I'm not goin to tell you that that thing that you said to me can't be possible, of course its possible, Bitcoin is one of the most volatile markets that exists,

Only time will tell us if we will right or we will wrong,

Thanks for your explanation :)
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Sr.Botones
3 years ago
snapshot
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