$BYBIT: BTCUSDT,
Look for the double-top formation on the chart. This pattern typically occurs after an uptrend.
Entry: Enter a short position when the price closes below the neckline of the double-top pattern.
top-Loss: Place the stop-loss above the second peak of the double top to protect against false breakouts.
Target: Measure the height of the double top pattern (distance from the peaks to the neckline) and project this distance downward from the neckline to set your profit target.
Look for the double-top formation on the chart. This pattern typically occurs after an uptrend.
Entry: Enter a short position when the price closes below the neckline of the double-top pattern.
top-Loss: Place the stop-loss above the second peak of the double top to protect against false breakouts.
Target: Measure the height of the double top pattern (distance from the peaks to the neckline) and project this distance downward from the neckline to set your profit target.
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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.
Disclaimer
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.