Bitcoin (BTC): Forming Bottom

In the previous idea we anticipated price drop to 5876 as the downtrend developed:

Currently, there are a couple of technical factors that suggest the bottom has either already formed or is very close to it:

• There are complete 5--wave impulses of minute and minuette degrees on the chart;
  
• A nice long-legged Doji supported by a spike in volume;
  
• Clear bullish divergence patterns.
  

Besides, people are quite pessimistic now, which is great for buying. All key levels are drawn on the chart.

Kommentera:

Test of resistance zone. Double top is possible.

Kommentera:

Not the cleanest of Inv H&S', but still:

Kommentera:

Kommentera:

Considering the formation of Triangles in many altcoins, downside price action in BTC is more probable now. A Double bottom is a preferred scenario. Waiting for confirmation, out of market for the time being.