BTC/USD is forming Double Top pattern possibly Adam & Eve Double Top. Pattern becomes valid once brake support which is bottom of valley.
Al in place so far:
Price trend - Upward leading to the pattern. Shape - Two distinct tops that look different. Adam tops appear first and are narrow, inverted V’s but Eve follows Adam and is more rounded looking and wider than Adam. Valley - The valley drop between the tops should measure 10% - 20%, but allow exceptions. Top price - The variation between price peaks is small, less than 3%. The two tops should appear to peak near the same price. Confirmation - The double top confirms as a true double top once price closes below the valley between the two peaks. Volume - Usually higher on formation of the left peak than the right.
IF YOU LIKE TRADING IDEA SMASH THAT LIKE BUTTON!!!
This information is not a recommendation to buy or sell.
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First target reached. Now we have to break support and we having valid Double Top with potential 25% price drop from support
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If we break the support and pattern becomes valid these are my two targets
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First target reached
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I expect small pullback now and after pullback attempt to drop price to second target.
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Falling wedge on 1H and falling volume suggest recent price rise is only a pullback which won't last long. Possible price drop
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wedge broken. going down
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Another broken rising wedge, this time 10M chart Expect price going down to support again
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1D chart testing resistance If broken be prepared for going up.
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Pattern still valid. Daily chart shows we experienced pullback yesterday and now we are back on track to reach second target.
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Buyers are not giving up. BTC is trying to breakout trendline. For now looks like there is more sellers on market pushing price down. Patience is required now.
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BTC has formed ascending broadening wedge 1H chart. Downward breakout 73% of the time.
It's always funny when uncontrollable Wild West crypto FUD totally blows up technical analysis (or makes your TA look spot on)
PipEze
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@involver, I think we should stick to this what's on chart. no fancy lines, no hundred indicators, no looking for something hidden - just candles, volume and numbers
GustavoBrucestavo
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@balocik, finally a realist!!!!
My Gir there are so many fake messiahs on this site