BTC M formation
Updated
Newbie here at TA so don't take this too seriously but I would like to hear your thoughts on this. This could be a M formation or a double top meaning the trend would reverse and go bearish. We retested 12 000 but didnt break it this time around. Theory says if we go lower then the dip in between the two peaks then we will see a drop equivalent to the length of the peak to the bottom of the dip (orange line) which would bring us to $6700. What do you think?
Note
looking goodNote
We closed below trend line, good sign, if we can break the support line then straight down to 6700.Note
We just broke the support, get ready for 6700.Note
Well well, looks like I was right. Now where will it go from here. 6k, 5k, 4k, 3k, 2k, ????Reply
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