Trader9898
Long

Bitcoin - Finding A Bottom - Reverse Head And Shoulders

BITSTAMP:BTCUSD   Bitcoin / U.S. Dollar
Bitcoin             stabilized in the last couple of hours, and looking at at the chart for verification, we see Bitcoin             had been trading in a regression channel downwards with no major technical signs of reversal until the last couple of hours when Bitcoin             made a reverse head and shoulders pattern typically seen in major reversal trend directions. The reverse head and shoulders isn't quite as strong as it could be (need heavy buying volume for that), but look for higher lows in the next few hours to confirm the trend reversal and we may have found our bottom.
Comment: Idea turned out to be correct, just 24 hours too early
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