BTC - This sure looks like a reversal up to me - Reasons below

BTC - This sure looks like a reversal up to me - Reasons below .

a) There's the ( upside down ) Hanging man candle( hammer ) on the weekly. The hanging man is a trend reversal after a downtrend and has to reverse something. To the left theres the Big red candle down that its reversing and to the right there a bullish engulfing candle which also confirms the reversal
Hanging man hammer
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www.investarindia.co...-hammer-hanging-man/



b) Also the weekly is sitting on a triple bottom which is a reversal pattern
Triple Bottom info:
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www.investopedia.com...s/t/triplebottom.asp



C) Also on the daily this is a an EVE ADAM - which is a reversal pattern to 9200, and 9200 has not been hit yet.

EVE Adam reversal info:
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thepatternsite.com/aedb.html

With so many trend reversal signals this downward action has to be a bear trap

Comment:

The only way to switch back to bearish mode is If BTC drops $900 and clears the the weekly bullish candle .. can this happen ? We will need to see if BTC closes below 8350/8200

Comment:

looks like BTC should reverse upwards at around the 8164 area

Comment:

oops! incorrect graph above - it should be this one

Comment:

Alternate Path to 9300
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