Double Top Pattern on XBTUSD. Current short position setup.
Just my thoughts on a potential downside for bitcoin for the next week or two. Looking for a decisive downside break of the short-term uptrend and the neckline of double top. This would give double confidence of a move to the downside with a target price of $5900. I, personally, will be closing portions of position anywhere in the range of $6100-$5900 unless technicals tell me otherwise.
OPEN: $6370
STOP: $6440 (1% loss)
CLOSE: ~$6000 (5.8% gain)
OPEN: $6370
STOP: $6440 (1% loss)
CLOSE: ~$6000 (5.8% gain)
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