This looks to be the bottom

BITSTAMP:BTCUSD   Bitcoin / Dollar
370 15 4
The comment below will show the big picture of the following situation. (besides the patterns here)
BTC_Daily.Pips BTC_Daily.Pips
Maddie BTC_Daily.Pips
I agree with @ChartArt!
I think were indeed near the bottom.
Take a look @ the chart I drew.
Possible breakout @ 3 october 2014

The things I drew on the RSI looks almost the same as yours.
Think the bottom will not be any lower than 2800.

Good day!
+1 Reply
Thanks for the link, the idea looks very similar, but I must say, I like the lines you drew on the chart very much. Nicely spotted, indeed 2800 looks as a nice bottom for BTC/CNY!
We are not at the bottom yet. But we are almost there.
+1 Reply
could may well be another pullback as well, what I have noticed during the last days, despite the pressure down, the bears don't want to play anymore like the last weeks, seem tired or start to be afraid to take new risks to short. It is hard to be bullish either in these times, the fact is, the last week reminds me a lot the may period before the rally... It was right after an extremely bearish month or so, a big retracement than pullback and sideways with a similar sentiment as we have now. We will see, I think the best way is wait for the market take the move, buy in after a retracement if it goes up or buy after panic gets to the market during a sell-off. Shorting seems risky at the moment either.
Maddie BTC_Daily.Pips
I agree on this. Also notice that this time is different.
Same as @ 2011.. This also means were ready for takeoff
ChartArt Maddie
I just changed my mind. It may not be THE bottom.

But we have at least a intraday bottom.
Maddie ChartArt
Haha well, good to know :)
I can only agree !!
ChartArt Maddie
And I didn't even check the CNY charts.

I just looked at the Huobi, OKCoin 1-hour charts and they are much clearer showing a small uptrend than the USD charts from Bitstamp, Bitfinex, BTC-E.
+1 Reply
Maddie ChartArt
Yeah maybe you like this one! :)
ChartArt Maddie
Thanks. I already use this website.
HerSerenity ChartArt
One look at the volume indicators is enough to know this pennant doesn't even remotely qualify as bottom.
BTC_Daily.Pips HerSerenity
I would avoid to qualify it as a pennant, seems to long comparing with the downside movement and they normally take shorter time when continuing the trend (shorter than the flags even normally), on shorter time frames not looking as a pennant imo. But of course, it could go more down also.
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