Now the chart looks dire. 100 day MA and trendline are broken.
If the double top is folded down (identical blue vertical lines), target would be around 4500 USD.
Note the perfect backtest of the neckline (red) which gives this setting plausability.
Hope is restored if the price advances rapidly above the trendline and 100 day MA.
Then the setting would be a big abc flat since december with nice fib relations.
So today is quite important.
If the double top is folded down (identical blue vertical lines), target would be around 4500 USD.
Note the perfect backtest of the neckline (red) which gives this setting plausability.
Hope is restored if the price advances rapidly above the trendline and 100 day MA.
Then the setting would be a big abc flat since december with nice fib relations.
So today is quite important.