Bitcoin Decline: A Development from the Double Top

13 時間前

Over the weekend, we highlighted the potential for a decline based on a head and shoulders pattern, and we’ve finally seen the drop materialize. However, instead of a head and shoulders, a double top pattern emerged, leading to the decline. The price has now broken through the blue line, which had served as a repeated point of resistance. As a result, the next target may be the lower boundary of the black channel, around the 67,500 level.

From this point, I’d like to note that the following is based on my personal experience, so please take it as such. In cases of a double top with this angle, it’s common to see a significant rebound once the price hits the lower boundary.

For those holding short positions, be cautious not to become too attached to your trade.