📅 Date: 16/04/2025
🕑 Time: 02:18 AM
💰 Current Price: 84,001 USDT
Trade Idea:
Pattern Identified: Double Top
Action: Sell at current price (84,001)
Target Price: 80,800
Stop Loss: 86,680
Risk/Reward Ratio: Approx. 1:1.2
Bias: Bearish — anticipating a rejection from resistance and a breakdown toward neckline support.
Double Top Pattern Summary:
The double top is a classic bearish reversal pattern that forms after an extended uptrend. It is characterized by two consecutive peaks at approximately the same level, separated by a moderate trough.
First Peak: The price rallies and then pulls back to a support level called the neckline.
Second Peak: The price climbs again but fails to break the first high, forming the second top.
Confirmation: A break below the neckline often signals a potential downside move.
Disclaimer: This trade idea is for informational purposes only and does not constitute financial advice. Cryptocurrency trading carries a high level of risk and may not be suitable for all investors. Please conduct your own research or consult a licensed financial advisor before making investment decisions.
🕑 Time: 02:18 AM
💰 Current Price: 84,001 USDT
Trade Idea:
Pattern Identified: Double Top
Action: Sell at current price (84,001)
Target Price: 80,800
Stop Loss: 86,680
Risk/Reward Ratio: Approx. 1:1.2
Bias: Bearish — anticipating a rejection from resistance and a breakdown toward neckline support.
Double Top Pattern Summary:
The double top is a classic bearish reversal pattern that forms after an extended uptrend. It is characterized by two consecutive peaks at approximately the same level, separated by a moderate trough.
First Peak: The price rallies and then pulls back to a support level called the neckline.
Second Peak: The price climbs again but fails to break the first high, forming the second top.
Confirmation: A break below the neckline often signals a potential downside move.
Disclaimer: This trade idea is for informational purposes only and does not constitute financial advice. Cryptocurrency trading carries a high level of risk and may not be suitable for all investors. Please conduct your own research or consult a licensed financial advisor before making investment decisions.
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.
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.