Double bottom in place, bitcoin could be poised to soar!

BITFINEX:BTCUSD   Bitcoin / U.S. Dollar
With what may be a double bottom completed today, bitcoin could be ready to retest (and possibly break through) the descending trendline . This would end the triangular correction letting bitcoin enter a new bullish trend phase. That hasn't happened yet. There's still work to do. First, the market has to reach and break through short term resistance shown in the black/yellow striped box. Following that it has to reach the upper trendline (red line) and then break through it. The market has potential to do this, but if price falls below prior support of the double bottom , it's time to reevaulate; even if that means only readjusting the time scale.


+1 Reply
@andyw105, We'd love to hear any thoughts or questions you may have.
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