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BITCOIN Gaussian turned green after 270 days! The BOTTOM IS IN !

BITFINEX:BTCUSD   Bitcoin / U.S. Dollar
Great news for Bitcoin bulls as the Gaussian Channel has entered into green territory for the first time in 270 days.

During the previous Bull Cycle this event took place in January 2016 and was accompanied by the new bottom ($365), a price Bitcoin never saw again. What followed was a consolidation phase inside a Triangle pattern and on an Ichimoku squeeze a new aggressive rise started.

Can the same series of events replicate an identical price action? Technically yes as BTC tends to repeat its historical patterns. If that is the case this time also, then it is very possible that the new bottom is in and we will not be seeing $9000 again.

Was this 4-digit Bitcoin price a bargain? Let me know your thoughts in the comments section!!


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Comment: Complementary Analysis

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what is the set-up from your ichimoku cloud?
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Good analysis! Bitcoin might be creating a huge triangle:

+1 Reply
Ya of course 3500ish was bottom but still lots more pain to go from 10,300
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Just did another analysis on this move and showed my next targets, enjoy !

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nov. the true market starts, you are just feeding the whales at this point.
Hodl and buy more on the dip.
+4 Reply
F
+4 Reply
When good ideas become mainstream like this, its no longer good idea imo, whale eyes everywhere
+7 Reply
The selling pressure is too much. It looks like we may be on our way to another bear market.
+2 Reply
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