Confirmation of inversion?
The analysis was successful last time, fully confirming the touch at 48k and then retracing it at 45k, a purely technical analysis that this time paid off.
The market is in an upward phase even if it is shy, I believe and hope, even if with difficulty, that it will be the beginning of a good recovery.
What could happen?
On a purely technical level, the TOTAL has a chart very similar to Bitcoin and 2 things could happen even considering the delicate moment we are experiencing.
1) We could see a rise from 48k up to 50K (psychological threshold) and then lean in the area of the previous high, therefore on the old channel that can still act as a support, thus creating the classic double top and LONG restart on the channel (best hypothesis )
2) We could see a rise from 48k up to 50K (psychological threshold) and then retrace up to the 42 / 43k threshold because as you know when creating a double top there is a good chance that the top will break and cause the price to collapse.
FINANCIAL FANTASY NOTE:
I put the weekly chart on the top left and if you notice BTC since June 2021 it has always created head and shoulders.
If it were to make a double top and then drop to 42 / 43k on TF Weekly we would see the first push.
do you think it could happen?
The market is in an upward phase even if it is shy, I believe and hope, even if with difficulty, that it will be the beginning of a good recovery.
What could happen?
On a purely technical level, the TOTAL has a chart very similar to Bitcoin and 2 things could happen even considering the delicate moment we are experiencing.
1) We could see a rise from 48k up to 50K (psychological threshold) and then lean in the area of the previous high, therefore on the old channel that can still act as a support, thus creating the classic double top and LONG restart on the channel (best hypothesis )
2) We could see a rise from 48k up to 50K (psychological threshold) and then retrace up to the 42 / 43k threshold because as you know when creating a double top there is a good chance that the top will break and cause the price to collapse.
FINANCIAL FANTASY NOTE:
I put the weekly chart on the top left and if you notice BTC since June 2021 it has always created head and shoulders.
If it were to make a double top and then drop to 42 / 43k on TF Weekly we would see the first push.
do you think it could happen?
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