BitcoinShort
Possible Scenario of the Double Top
Updated
As we broke through 9300 we've confirmed the double top. I wanted to give a possible scenario regarding this formation.
The price might try to retest the neckline at 9300. Failing that would further strengthen the authority of the double top formation and we might reach the target of 6800.
The price might try to retest the neckline at 9300. Failing that would further strengthen the authority of the double top formation and we might reach the target of 6800.
Note
We have created a double bottom around 8400. If we successfully pierce the orange dotted resistance line we might retest the double top's neckline which coincides with the target of the double bottom.Closing above the double top neckline might bring new possibilities to the table.
Failure will indicate the dominance of the double top and we might plunge down to it's target of 6800.
Note
Breaking and retesting the neckline has done. We are on our way to Double Top target (6800)
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