28 Jun '17, 9pm

Bitcoin Price Analysis: Double Bottom Reversal Chases Out the Bears

In our previous BTC-USD analysis , there was a fear of a massive Head and Shoulders pattern that had very low price projections for the entire crypto market. In a turn of events, when BTC-USD made its test of the Head and Shoulders neckline, it actually responded in a market reversal . Figure 1: BTC-USD, 6-hr Candles, GDAX, Head and Shoulders Rejection Yesterday, the crypto market took a turn upward as the market leader made a Double Bottom Reversal pattern that sent a market-wide bear run into an immediate bull run. As the BTC-USD market made an attempt to test the boundaries of the lower prices of the bear run, volume began to pick up and sent us into a market reversal. How does one spot this pattern and where are we headed in the next few days? Figure 2: BTC-USD, 30-min. Candles, GDAX Characteristics of a Double Bottom Reversal pattern include the following: A descendin...

Full article: https://bitcoinmagazine.com/articles/bitcoin-price-analys...

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