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TokenNation
Mar 10, 2020 12:32 AM

BTC/USD: have we just reached the bottom? Long

Bitcoin / US DollarBittrex

Description

This is the BTC/USD chart from Bittrex. On march 9th 2020, there was a quick move downwards, which did 4 key things:
1) touched the target of 7300 usd (which is the bottom of the right shoulder in a potential inverse H&S pattern);
2) filled the CME gap (at around 7680 usd);
3) Bottomed and bounced on the 100wma; and
4) Botommed and bounced on the lower support line within the BTC logarithmic growth curves.

I have only seen this move in Bittrex. In Binance, Bitstamp... and other exchanges I have only seen reaching the 7635 usd level, this means that 2), 3), and 4) happened but 1) did not happen.

Is this enough to say we reached the target and the bottom?

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