Maddie
Long

Bitcoin could be forming a potentially Triple Bottom pattern

BITSTAMP:BTCUSD   Bitcoin / Dollar
616 26 18
As I promised here is my description !

While everyone is complaining about the decease of the last two weeks, I see a potential growth between now and the 18th of august!
In my opinion Bitcoin             is making a tripple bottom.

There is to much support and good news to go a leg lower. If the confirmation line breaks around 610 we can calculate the new resistance level . This will be: 610+ (540-680)= 740 +/- It's safe to buy around 610 because if that trend line is broken we will see a new rally to around 740!

If my opinion isn't correct we will fall down to around 420, but this seems very unlikely to me.

Have a great day guys!:)
I was looking at the 530 level. That one seems more likely since it is also where past supply turned into demand.
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Maddie NicoNaylor
Why do you think the past wil repeat?
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Whenever I see consolidation and a burst of demand near past resistance that future demand and has not yet been tested, that usually becomes the pivot point where the long-term trend continues.
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NicoNaylor NicoNaylor
Whenever I see consolidation and a burst of demand near past resistance that BECAME demand and has not yet been tested, that usually becomes the pivot point where the long-term trend continues. ***
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Maddie NicoNaylor
Hmm, I don't think it's a strong argument for another leg down but maybe i'm to positive. The only thing we have to do is wait! :)
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The way I see it is this 555 level has been tested twice already and it is about to test it a 3rd time. In my experience, when price tests a supply level 3 times it'll usually break through it and test lower levels until it finds demand.
+2 Reply
A woman doing technical analysis... I am so turned on right now.
+1 Reply
Maddie NicoNaylor
Haha, it's weird right!?!
+1 Reply
Asterix Maddie
No, it is not. Unless you believe that women are inherently less intellectually capable - which I hope you do not believe?
+1 Reply
Maddie Asterix
hahah no of course not :)
+1 Reply
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