Post
Topic
Board Speculation
Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
by
N12
on 11/01/2015, 16:35:45 UTC
About double and triple bottoms, and generally any patterns and signals in technical analysis:

It makes no sense to anticipate patterns and signals before they actually form. The only point of that is for letting your Hopium (don't smoke that shit, it really is bad for you) run wild and your fantasies roam free. For a double bottom, that would be rising above the highest point in between the two double bottoms. At that point, it'd be confirmed.

Triple bottoms especially are such a rare pattern that you should always bet that the second bottom will be pierced if the price gets near it again.