Post
Topic
Board Speculation
Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
by
TERA
on 18/06/2016, 21:03:35 UTC

The problem with this is the two bottoms don't compare at all.

The section on 2011 is a brief double bottom followed by a strong 6 month pennant where the price never drops below this level 110% above the bottom (kind of like a 38% fib retrace on the log chart).

The section in 2015 has roughly the same bottom being hit over and over for a year and no pennant. If you look on the charts of some other exchanges such as Bitfinex, you see the actual bottom of 160 being hit again in August.