If, I mean, if, BTC doesn't break 7700 support and bounces back to 9k, it will create a very bullish pattern where we can find adam and eve bottoms on the chart.
If you have followed me for a while, you know I had always been holding a bearish attitude toward this market. However, I would like to see the bull market returns just like others. Now I felt that people in this market are despair and all chatrooms/communities are getting quiet. These are probably signs that the market has already filtered out the gamblers and moon boys.
This is not any kind of financial advice and even myself would not trade this potential bullish pattern until it is completed.
If you have followed me for a while, you know I had always been holding a bearish attitude toward this market. However, I would like to see the bull market returns just like others. Now I felt that people in this market are despair and all chatrooms/communities are getting quiet. These are probably signs that the market has already filtered out the gamblers and moon boys.
This is not any kind of financial advice and even myself would not trade this potential bullish pattern until it is completed.
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The movement of BTC now looks very bullish.
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Well everytime I say something "looks" bullish/bearish. The opposite is the true. So dont trust intuition. So forget about the double bottom. Let's back to bear mode and aiming to a much lower bottom.
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So the chance that we could have a double bottom is still here. I did give you the 7600-7800 as the local bottom for this dip but I didn’t expect that 7700 held so well when it was tested the second time. Although I really want to believe the reversal is coming, I would not trade it. I have sold most of my spot coins the day right after the first 7700 dip and closed my positions. Now I am just staying out and watch what is their next move.
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Three times. They could not break 7700. I can the bounce coming.
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By the way it is highly risky trading at the moment because it could either be an epic leg up or a death drop. I will only place my order when the volume is up and when it breaks previous high/low (when the direction is clear).
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Wait for the show.
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Very weak pump. I don't think the pump will take us to anywhere if the volume keeps so low. The whales do not show the strong intention.
We don't trade patterns. We draw them.