Bitcoin: Hope it does it

Updated

BTC is going for a deep low but may be forming a double bottom. It's going really fast.

Comment

Comment

If we focus we can see that price is not aligned with RSI.
Price is moving slower than RSI.
If RSI stretches and price is supported we may see a nice come back from that low.

Comment

Anyway, I am not a trader and these are only my personal ideas. A double bottom there and at the end of the month would be like a very important statement for me from BTC. I double bottom in such a low position? What could it mean? I am dreaming again...sorry

Comment

Bullish flag will be then completed.

Comment

In a month made the bubble (dicember) in a month it retraces it (january). Sounds nice. February?

Comment

This is last week of the month. Perfect time and setting. lol

Comment

But if I look at the weekly chart I am brought back to reality

Comment

But today is only monday! Yes, and that weekly candlestick may complete a three black craws formation by the way its moving.

Comment

Let's wait and see

Comment

I forgot. In March a lot of deadline of crypto projects are due to be annuonced. It will be a good indicator to see how this new industry is developing.

Comment

BTC is really stretching towards that lower low. I didn't put an arrow on it but is at 9259 more or less

Comment

It come back above 10.500 which is a bullish sign

Comment

I don't think it will end the correction there but let's see. To go there it means that should go to 11K which would be a very bullish sign

Comment

But still has not completed the neckline therefore need to be patient.

Comment

The neckline is that lower low that may be hit if BTC insist going down

Comment

I can see a very nice come back from that lower low if it will ever reach it. lol

Comment

If this is an industry in expansion a double bottom there would be a nice fundament from where to start. Don't know.

Comment

Let's see and be patient.

Comment

Thank you AlanMaster. From you it's an honour. Much appreciated for taking the time to look at it. Thanx

Comment

Ok. It has completed that small correction and resumed its run towards lower lows. Let's see how it moves.

cozzamara

Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.