Bitcoin: Break it down! (with double bottoms)
Another day another pattern spotted; it seems this one is called a Double Bottom Breakdown. It's the first time I've used these geometric shapes so I hope they look OK.
FYI: Double Bottom Breakdown definition: stockcharts.com/school/doku.php?id=chart_school:chart_analysis:pnf_charts:pnf_bearish_bd
Since the fall from the "artificially" held $6000 level, BTC has been stepping down through the levels testing each one when it reaches. It looks like we have been through two cycles of this now; the current one a smaller version of the first. Will we see another another even smaller one that follow? We will see something else?
Ideas, comments and opinions below. Cheers!
FYI: Double Bottom Breakdown definition: stockcharts.com/school/doku.php?id=chart_school:chart_analysis:pnf_charts:pnf_bearish_bd
Since the fall from the "artificially" held $6000 level, BTC has been stepping down through the levels testing each one when it reaches. It looks like we have been through two cycles of this now; the current one a smaller version of the first. Will we see another another even smaller one that follow? We will see something else?
Ideas, comments and opinions below. Cheers!
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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.