BTCUSD formed double top? More DROP?
From the daily chart of bitcusd, the price formed a double top pattern around the top are of this bearish channel.
Comparing with previous tops, more drop followed after a double top pattern.
therefore, it might continue to go bearish for short-term.
Comparing with previous tops, more drop followed after a double top pattern.
therefore, it might continue to go bearish for short-term.
Trade closed: target reached
As our prediction last week, the price move in a bearish market after a double top pattern formed.And the price now is getting close with the support area from previous consolidation box.
If it drop below this support area, it may drop to 47000 this week.
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.