I'll be honest, since I'm long BTC, hoping we have a triple bottom reversal pattern. It's premature now as we may or may not settle on our 3rd trough (bottom). If so, we'll see buyers and sellers battle it out, and hope Buyers prevail and start upwards movement. If we can push up to $11,750, it's another test (Resistance), more buyers need to step in and push higher. Time frame for this mark may be end of February. Let's say Buyers step in, then target is $17,500. What you think? Thanks and follow.
you marked the triple bottom reversal pattern at the wrong point. Triple bottom reversal patterns typically take the form over 3-6 months. Your triple bottom reversal is only within one month. The true triple bottom reversal pattern is actually this:
Bottom 1: 2/6/2017 - 6890
Bottom 2: 4/6/2017 - 6700
Bottom 3: 5/28/2017 - 7000 (could still come back to 6800)
If there is a triple bottom reversal happening to Bitcoin - this is the true pattern.
Ferburary - June = 4 months, hitting a bottom point of resistance at the same point 3x(6700-7000)
We are actually now touching the 3rd bottom, and the reversal would be expected after June 15th (late June).