Hi guys,
Was analyzing the price movement of BTC and by the looks of it seemingly having a triple bottom at a price of around 7000 and other indicators also seemingly support this text book theory.
I am still very much early into my Technical Analysis and from the theory I have read, seemingly a triple bottom occurs in a long downtrend and a sign of a bullish reversal. I honestly dont have any experience dealing with this kind of situation so was just wondering if anyone can give me a approximation of the probability of this taking place? If so what kind of run up can we expect?
Hope I am clear in what I want to ask.
Thank you
You can give it a try to make a buy order! Technical analysis on Bitcoin price momentum might be a worthy shot, it might not be a guaranteed or precise yet volatility would always be the enemy on here but you can have those basis to be used of on doing trading. Usually double bottom would already give out a signal of reversal,but what happened? it didnt go up but rather forming a tripple bottom instead we can really make our presumptions that this would be already a good entry but you should take action with a level of certain risk.