Price has created a double top pattern in 1H Chart, now we are just waiting for a confirmation to go short just below the neckline. Stochastic Oscillator is coming out of the overbought area and we are witnessing a strong bearish candle.
at this point in the double top we can almost be certain that it will drop if you look at the MACD and RSI on the one day charts. Both have bearish trends. And if you throw in the Ma 100 and Ma 200 we have a resistance at 4100 from the 200 and a resistance at 4660 from the 100. so at this point with bitcoin a fall is almost certain but just remember the biggest rule of the market. expect the unexpected
CryptoMacroTrend
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@Taylor1920, Certainly "expect the unexpected" is the first rule of the market, and yes, you are completely right about the MA, just one question, are you using simple or exponential MAs?
After reading your comment I've checked it with simple MAs.
Taylor1920
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@CryptoMacroTrend, just simple moving averages, not EMA, and I mistyped but the 100 ma resistance is at 4550 and not 4600
CryptoMacroTrend
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@Taylor1920, Cool, thanks a lot, from now on, I will start paying more attention to levels using those two simple MAs.
Taylor1920
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@CryptoMacroTrend, yea no problem, using the 100 ma and 200 ma on the day charts you can find some resistances or support levels