BTC BOTTOM UNDER CONSTRUCTION ON DAILY

2 Okt 2014

Analizing the daily chart on renko visualization i put a good indicator to find the possible bottoms. As you can see when the bars turn from grey into green we have a good chance to find the bottoms, in particular if combined with bars that reach a top and begin to retrace. Now we have the green phase that lasts from 2 bars and we need a confermation to find the bottom. I put a channel that touches the lows and draw a parallel line on other significant lows to find the possible targets. Drawing the trend based fib extensions i have found the 345 area as a possible reversing area, otherwise this brings to the 300 area in the worst scenario. If the green bar decreases from now we have probably reached the bottom.
Good luck for your trading