Did we just hit a double top in BTC?

Updated

Hello,

First post! Which means I'm learning TA...did we just hit a double top for BTC? Or are we expecting a double top at around 8000 before we could go down again?

Thanks for any feedback and help :)

All the best,
James

Note

To clarify (apologies for not doing this from the start), I'm asking where we already hit the double top at around $7740 (in which case we go down now), OR will we hit a double top at around $8040? That's where my thinking is now....

For the record (and I know many of the other TAs are saying this general thinking, too), I still think we need to go a little lower before big money comes back into the game. Think about it: BTC needs to attract 'new' money for it to go to the moon (which I believe it absolutely will). Considering how the last three months have gone, BTC is going to need to really woo new buyers into trusting it again. As of right now, does anyone trust BTC?

With that said, I haven't been in BTC for that long. Thoughts from those veterans out there is most welcome as you can certainly speak more about BTC better than I can!

And all thoughts are great! I'm trying to get into TA as I think it's pretty cool (I like numbers/patterns/statistics as I'm a neuroscientist).

All the best,
James

Note

So have we now hit a triple top (the 3rd one around $7030) for BTC? It'll be the 3rd time we've been rejected around this level. The same is seen in ETH (around $470) and maybe a double top in LTC (around $127 for the second, but the first was up at $129; not sure about this one on LTC because LTC has been acting a bit weird, right?). Or is this just how these coins all work?

Again, all feedback is great. My main question that I'm looking for a straight answer on is: what timeframe do you use to spot these trends? These ones mentioned here are only in the last like 6-10 hours...but should they be more like weeks? I know crypto moves a heck of a lot fast than normal markets! Do you recommend 4 hr charts?

Also, I'm posting this when BTC is around 7715 on gdax, so it might be a bit soon to call a 'triple' top if it's even valid to call anyway! For all I know, BTC could either spike to the moon or sink like a rock lol again, new to TA so go easy on me please. I'm just looking to learn here :)

All the best,
James

Note

To the moon then :D haha

Note

Okay, so now I'd say we have a double top confirmation? On my graph, it was the above one (around $8030). Lesson learned: timeframe is EVERYTHING!

Take a peek at my ETH graph though...I think it had a bit of merit perhaps :) and LUCK!

And again, always looking to learn! So feedback most welcome :)

All the best,
James

jscduk12

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