BitcoinLong
BTCUSD My Interpretation of a Upwards Sloping W-Bottom
Updated
1. A Reaction Low formed and broke through the lower Bollinger Band.
2. Price Moved back around the SMA (Middle Band) and exceeded it, Moved Back to the Higher Bollinger Band and Broke Through it.
3. A Second Drop in Price created a Newer Low, Which was Higher than the Previous Low and did not Break Through the Lower Bollinger Band.
4. A Strong Move Brought the price back towards the SMA, Exceeded it - Hitting the Higher Bollinger Band and Broke Though it.
2. Price Moved back around the SMA (Middle Band) and exceeded it, Moved Back to the Higher Bollinger Band and Broke Through it.
3. A Second Drop in Price created a Newer Low, Which was Higher than the Previous Low and did not Break Through the Lower Bollinger Band.
4. A Strong Move Brought the price back towards the SMA, Exceeded it - Hitting the Higher Bollinger Band and Broke Though it.
Note
Level to Achieve Rejected, Failed to hold support and tested the level to hold. I would like to see weekly close above 10600 for another test of 11000
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