BTC Possible formation of Double top pattern and reversal
This is inverted chart and here from this angle it is double bottom pattern :)
Anyway, today markets are calm and this calmness is for some reason very disturbing. This looks like calm before the storm.
Double top formation will be confirmed if the price will fall below a support level between the two prior highs and this can be a signal that the overall uptrend is losing its momentum and the trend might be going sideways, or even reversing since double tops often lead to a bearish reversal.
Price can drop to 31-32 level, which is supported by the 0.5 level of Fib Retracement tool.
What do you think about that?
P.S. Most of all, I would like to be wrong in this forecast.
Anyway, today markets are calm and this calmness is for some reason very disturbing. This looks like calm before the storm.
Double top formation will be confirmed if the price will fall below a support level between the two prior highs and this can be a signal that the overall uptrend is losing its momentum and the trend might be going sideways, or even reversing since double tops often lead to a bearish reversal.
Price can drop to 31-32 level, which is supported by the 0.5 level of Fib Retracement tool.
What do you think about that?
P.S. Most of all, I would like to be wrong in this forecast.
免責聲明
這些資訊和出版物並不意味著也不構成TradingView提供或認可的金融、投資、交易或其他類型的意見或建議。請在使用條款閱讀更多資訊。