Theta fuel BE AWARE of possible major reversal! DOUBLE TOP!!!!
Folks,
it's a pity because when you see a falling wedge you become a little excited as I know this pattern as more bullish then bearish.. ok we had a little breakout. BUT!
We see a double being formed closely after each other.. that means strong rejection of higher prices.. this is the basis psychology of the market at this price level.
In Technical analysis nothing is true unless the EVIDENCE has shown it. So a double top tells you to be aware, to have your eyes open and to re see your stop loss etc.
It doesn't mean a 100% reversal.. no prices can move sideways to.
These are just signs to be aware.. but my expectation + feeling says also with the possible decline in the bitcoin price.. prices will decline a little this weekend.
But hé I talk out of HIGH PROBABILITY stand point!
it's a pity because when you see a falling wedge you become a little excited as I know this pattern as more bullish then bearish.. ok we had a little breakout. BUT!
We see a double being formed closely after each other.. that means strong rejection of higher prices.. this is the basis psychology of the market at this price level.
In Technical analysis nothing is true unless the EVIDENCE has shown it. So a double top tells you to be aware, to have your eyes open and to re see your stop loss etc.
It doesn't mean a 100% reversal.. no prices can move sideways to.
These are just signs to be aware.. but my expectation + feeling says also with the possible decline in the bitcoin price.. prices will decline a little this weekend.
But hé I talk out of HIGH PROBABILITY stand point!
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