i
love the thought of the triple bottom being the turnaround point, and for all we know it could well be. if not, i have one analysis that i haven't seen anyone else cover which i believe could be the absolute bottom if the triple bottom doesn't hold.
there is a long term trendline dating back to the beginning of 2015 (seen as the yellow line in the pic). this trendline proved to act as resistance about 9 times before breaking through finally and on July 15, 2017 the trend line acted as support for the first and only time yet.
we could possibly be going down to test that trendline as support once again before the next bull market begins. this would put us at around 4300-4500 btc in august or september depending on how good this July bull rally lasts.
please let me know what you think of this guys. do you think this scenario is possible? if you think my analysis is interesting, please follow me and subscribe to me on YouTube and Twitter too. You can find me as Crypto Galaxy X. thanks and may the bitcoin be with you!
To the question in your title, my Magic 8-Ball says:
Hi! I'm a bot, and this answer was posted automatically. Check this post out for more information.
so my analysis might prove correct if the magic8ball is right. ha. the best part about novice analysis is waiting to see if you're correct. even the best minds in traditional stock market analysis get it wrong most of the time.
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