Pattern becomes valid once brake support which is bottom of valley.
Al in place so far:
Price trend - Upward leading to the pattern.
Shape - Two distinct tops that look different. Adam tops appear first and are narrow, inverted V’s but Eve follows Adam and is more rounded looking and wider than Adam.
Valley - The valley drop between the tops should measure 10% - 20%, but allow exceptions.
Top price - The variation between price peaks is small, less than 3%. The two tops should appear to peak near the same price.
Confirmation - The confirms as a true once price closes below the valley between the two peaks.
- Usually higher on formation of the left peak than the right.
Credit - Thomas N. Bulkowski
source - http://thepatternsite.com/aedt.html
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This information is not a recommendation to buy or sell.
Falling wedge on 1H and falling volume suggest recent price rise is only a pullback which won't last long. Possible price drop
Expect price going down to support again
If broken be prepared for going up.
I noticed it's hanging out low for a lonnnnngg time... seems very weak! These are uncertain times!
And for the double top I see it! Just not sure how low we will go! Or if we go? I mean had a inverse head and shoulders or could even be seen as a massive cup and handle from the 6k low, it should have broken up and to around 14-15k but we got fud and dumped on! Now I think people are frustrated and not sure what will happen, we could even go up!
I'm not sure how much you take into account market sentiment but the TA you do is top notch! Thanks for sharing as always!