Post
Topic
Board Speculation
Merits 1 from 1 user
Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
by
Majormax
on 19/12/2018, 01:51:58 UTC
⭐ Merited by JayJuanGee (1)
.....and the sucker's rally begins

Yes, bitcoin's price has a habit of filling gaps and this seems no different. It would not indicate a V-bottom reversal to me unless it cracked above the descending triangle's floor at ~5700.

That would be a strong indication, but time is a more important variable than price IMO.

The low will only be confirmed to be in the rear-view mirror when price has held at least 50 % above the low point (lets say that is around $5k) for several months.
That point will be the safest area to buy .

It is risky to anticipate it, because a subsequent drop to a new low can wipe out a lot of capital .

The % rise from a lower low would more often give a greater profit than the missed potential of waiting for confirmation.

Drip-feeding in would mitigate the effect, of course.