Bitcoin (BTC): Forming Bottom

2018年6月25日

In the previous idea we anticipated price drop to 5876 as the downtrend developed:

Currently, there are a couple of technical factors that suggest the bottom has either already formed or is very close to it:

• There are complete 5--wave impulses of minute and minuette degrees on the chart;
  
• A nice long-legged Doji supported by a spike in volume;
  
• Clear bullish divergence patterns.
  

Besides, people are quite pessimistic now, which is great for buying. All key levels are drawn on the chart.

2018年6月25日

註釋

Test of resistance zone. Double top is possible.

2018年6月25日

註釋

Not the cleanest of Inv H&S', but still:

2018年6月26日

註釋

2018年6月28日

註釋

Considering the formation of Triangles in many altcoins, downside price action in BTC is more probable now. A Double bottom is a preferred scenario. Waiting for confirmation, out of market for the time being.