Good evening,
So it looks like we have hit a double top formation. I posted a long trade earlier and I was dead wrong, but mentioned that 7500 was my sell point because I feared for this formation. Once the price broke support, the double top formation was confirmed.
I don't like shorting bitcoin, but I do feel we are heading further down as the double top formation is one of the most bearish signals there are. I'm holding my cash until I see a better price. Good luck everyone!
So it looks like we have hit a double top formation. I posted a long trade earlier and I was dead wrong, but mentioned that 7500 was my sell point because I feared for this formation. Once the price broke support, the double top formation was confirmed.
I don't like shorting bitcoin, but I do feel we are heading further down as the double top formation is one of the most bearish signals there are. I'm holding my cash until I see a better price. Good luck everyone!
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.