Possible Double-Top Targeting 60-63k

2024年6月8日

If 67k is lost and not reclaimed, Bitcoin may target a drop down to ~63k and then 60-61k (around 60.6k).

This relates to a couple of other charts previously posted:

A smaller double-top on the 4 hour chart that is already confirmed and hit TP 1, which is likely headed towards TP 2:

A daily chart that is targeting 73-75k if it can hold 60k:

2024年6月12日

交易進行

Update, broke below the neckline at ~67.2k but is presently seeing a pullback above it. Lose it again and remain below to confirm the bearish 8h TF pattern. Remain above the neck to invalidate it:

2024年6月12日

交易進行

Note that DXY has already done the "same" (negatively correlated) with its double-bottom on the 8h TF.

It already saw a pullback after breaking above the neck, it fell below. It has since broken back above the neckline. This may indicate that Bitcoin will do the same (opposite) and break below its neckline confirming its 8h TF double-top:

2024年6月12日

交易進行

Here's a side-by-side of DXY vs Bitcoin showing the correlation described above, BTC chart is drawn slightly differently than above so targets aren't exactly the same, but close:

2024年6月23日

交易進行

Approaching first target:

2024年6月24日

交易進行

1st target reached:

2024年6月24日

交易結束：目標達成

All targets reached, closing trade: