Short

doubletop leads to around 7k$?

Updated

BTCUSD formed a doubletop and has dropped through the neckline (61.8 Fibret). Price target is the 23.6% Fibretracement at around 7200$. Notable: SMA200 could be a strong support at that area, definitely a rebuy opportunity.

Trade active

retested the neckline and now broke the 50% FIbonacci Retracement. we could now drop even lower to the estimated target (SMA200)

Trade closed: target reached

we hit the estimated target (SMA200) and bounced back really quickly

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