Possible double bottom and triangle resolution

BITSTAMP:BTCUSD   Bitcoin / U.S. Dollar
152 3 3
We failed to make a new bottom during the last bear run, but we got kind of close, which suggests a possible double bottom , kind of like the double top in June, as I've illustrated on the chart. There is also a triangle forming (dotted blue lines) that may determine which way we go in the long-term. Break down and we're headed way down, break up, and we may head way up. It all depends.

We've had enough good news that I think it should be affecting the markets at some point, even if it's not immediately noticeable. I just noticed this interesting double bottom pattern and thought I would share. I think we're due a long-awaited test of the long-term downtrend shown by the red arrow.
Ever seen a double bottom in Bitcoin which held for a whole whopping two weeks? Yeah, me neither.
MoonTrader HerSerenity
Ever seen anything hold for 2 weeks? Not really. The volatility in BTC is going down. We're seeing the price move sideways a lot more than it used to. The market is changing.
HerSerenity MoonTrader
Agreed, not saying your setup is unlikely to work out, just very unlikely to be anything more but a short-term bottom.
+1 Reply
EN English
EN English (UK)
EN English (IN)
DE Deutsch
FR Français
ES Español
IT Italiano
PL Polski
SV Svenska
TR Türkçe
RU Русский
PT Português
ID Bahasa Indonesia
MS Bahasa Melayu
TH ภาษาไทย
VI Tiếng Việt
JA 日本語
KO 한국어
ZH 简体中文
ZH 繁體中文
AR العربية
Home Stock Screener Forex Signal Finder Cryptocurrency Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing My Support Tickets Contact Support Ideas Published Followers Following Private Messages Chat Sign Out