A Double Top Is Forming In Bitcoin
Two Peaks: The chart shows a peak in early May at around 59,459 and another peak in late May at around 59,357. The heights are nearly equal.
Trough: Between these peaks, there is a low point around the middle of May, around 50,000.
Volume: Volume does appear to decrease slightly on the second peak.
Neckline: The neckline would be around the 50,000 mark, the lowest point between the two peaks.
A rally above the 200 DMA was just rejected.
BTCUSD MACD shows momentum remains bearish.
Trough: Between these peaks, there is a low point around the middle of May, around 50,000.
Volume: Volume does appear to decrease slightly on the second peak.
Neckline: The neckline would be around the 50,000 mark, the lowest point between the two peaks.
A rally above the 200 DMA was just rejected.
BTCUSD MACD shows momentum remains bearish.
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