Bitcoin making a double top pattern
My personal opinion is that by the middle of 2022, Bitcoin might complete a double-top pattern going to lower levels than it is now.
Neck with baseline on the 32K may serve as a rebound support line to recover a little bit before falling deeper (Path 2) or it may cross the neckline seeking an old support on the 10K (Path 1).
I don't think it would be forming a H&S pattern (peaks are almost on the same level), and this is very similar to other textbook double-top patterns formed in the past.
I am hoping to be wrong on this analysis but sometimes we need to accept our fate.
Do your own research. Not a professional advice.
Neck with baseline on the 32K may serve as a rebound support line to recover a little bit before falling deeper (Path 2) or it may cross the neckline seeking an old support on the 10K (Path 1).
I don't think it would be forming a H&S pattern (peaks are almost on the same level), and this is very similar to other textbook double-top patterns formed in the past.
I am hoping to be wrong on this analysis but sometimes we need to accept our fate.
Do your own research. Not a professional advice.
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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.