Can it be possible that we have a double top pattern? On the chart we indicate possible moves using arrow lines to trade this setup. The next possibility is, can the price move to 70k?
For now, we will see this as a tentative Double Top Pattern and trade it to the downside, using well calculated stop-loss just above resistance. Should it hit support we will reconsider our position and trade a bounce or wait for a break below support. If this pattern remains in tentative state and we can see confirmation from the candlestick story tellers, we will consider a buy near a support area on a lower time frame.
Information, charts or examples contained in this analysis are for illustration and educational purposes only. It should not be considered as advice or a recommendation to buy or sell any security or financial instrument. We do not and cannot offer investment advice.
For now, we will see this as a tentative Double Top Pattern and trade it to the downside, using well calculated stop-loss just above resistance. Should it hit support we will reconsider our position and trade a bounce or wait for a break below support. If this pattern remains in tentative state and we can see confirmation from the candlestick story tellers, we will consider a buy near a support area on a lower time frame.
Information, charts or examples contained in this analysis are for illustration and educational purposes only. It should not be considered as advice or a recommendation to buy or sell any security or financial instrument. We do not and cannot offer investment advice.
Comment:
Good break above resistance, no chance of a double top here, or is this an exhaustion move?. We will have to wait and see if the price can reach 70K, there is no evidence why not. In current economic conditions anything is possible and what a good return trading BTCUSD is.