BTCUSD Double Top Short Opportunity
Hello, everyone! Bitcoin is now in an established downtrend so as far as meaningful movements, we are only looking for shorts.
BTCUSD is testing a key S/R zone's lower resistance level for the second time, creating a Double Top formation.
MACD Momentum somewhat supports large bear move in the hourly time frames.
Expect to see price reach recent level of support.
Post- Speculation: One price reaches this level expect a 50% pullback (of the size of the trade) at a level of support, then a trend continuation to the downside; looking to hit
42K, another major S/R zone.
BTCUSD is testing a key S/R zone's lower resistance level for the second time, creating a Double Top formation.MACD Momentum somewhat supports large bear move in the hourly time frames.
Expect to see price reach recent level of support.
Post- Speculation: One price reaches this level expect a 50% pullback (of the size of the trade) at a level of support, then a trend continuation to the downside; looking to hit
42K, another major S/R zone.
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