CryptoBullet

Did You Miss the Bottom Twice?

BITSTAMP:BTCUSD   Bitcoin / U.S. Dollar
Bitcoin moves in a beautiful descending channel . Look at how relevant is the middle line of the channel. Especially on lower timeframes

If we reach the top of the channel, that's going to be very interesting. If we don't get rejected there ... Actually this is looking like a giant Bullish Flag with a minimal target of 15k!

Right now we have a doji candle at the top. If we close the 12h candle at current prices, it can be the local top and high chances of a pullback to the middle line of the cannel and then more upside.

We have incoming bullish cross between 9 EMA & 50 EMA on the 12h. The last time when they crossed in a bullish manner it was in February of this year. Now we are on the verge of getting it again (~ 36 hours away).

Also what should excite you the most is the fact that we developed Adam & Eve pattern: sharp and deep first bottom on high volume + gentle rounding formation (second bottom). The same pattern formed the low of 2018 bear market!

It would be funny if the same kind of bottom reverses the market before getting to the desired by the majority 8-8.5k area. Just like it did in December 2018 when the majority was waiting for 1k prices.



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The information given is never financial advice. Always do your own research.

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Nice analysis and good title. Seems many were not aware of high probability double bottom.

I also wrote about it way ago on this link:


Great minds think alike. ;-)
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Looking good, great analysis!
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CryptoBullet DCCryptoacademy
@DCCryptoacademy, Thank you! Appreciate it
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Nice setup! agree with it we called for this bounce twice below 9500.. check our view:
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@Jocoin, Great view. Thank you for your kind words as well.
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Nice chart and explanation of Adam and Eve, my view js also more or less inline with your graph. Check out my chart and let me know what you think.

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@VickzinBK, thank you for your kind words. Will do
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Still holding my long term since 3500$, but always taking the chances to increase my stack :-)
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@Decrypt0, Great plan. Lets see what we ll have.
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