ReeceRingnald
Long

Ugly Double Bottom Potential on BTC 30.

BITSTAMP:BTCUSD   Bitcoin / U.S. Dollar
All necessary text is in the chart.
Comment: We're going lower and my ugly double bottom failed to confirm.

My descending broadening triangle now looks to hit the bottom trendline again.

Major distribution happening now, 5 bear candlesticks in a row.

I see price touching the $9,500 (the bottom trend line) and bouncing from there, or alternatively breaking even lower, which would require a new assessment.
Comment: Successful trading idea.
why is it ugly? Because we want a lower low?
Thanks for chart, very nice :)

Reply
@kitkat16, I've updated the idea to reflect the new data.
+2 Reply
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