It seems Bitcoin has hit a high. If the weekly candle closes with a pinbar, we might expect a pullback of Bitcoin prices as with the new Bitcoin ETF, I assume there will be some investors who would want to cash in their holdings.
The problem is, this will become a double top formation. if this is a double top then, we might expect Bitcoin to fall back to $30k which we shall see again if there is a "buy the dip" from Bitcoin investors.
The problem is, this will become a double top formation. if this is a double top then, we might expect Bitcoin to fall back to $30k which we shall see again if there is a "buy the dip" from Bitcoin investors.
Note
Pin bar completed.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.