Down to $7K we go!! -- BTC Double Top CONFIRMED!

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I think the title says it all. See my chart for more details.

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ملاحظة

The retest is taking longer than I hoped. It's because of a bullish doji on the daily charts. If we get a daily close above 9600 then the double top gets invalidated and we'll be headed up. Bears need to close today below 9200 (preferably closer to 9000) to keep the ball rolling down. Closing between 9200 and 9600 means the battle continues on the retest. I'll update as more happens.

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ملاحظة

We closed the March 11th daily just under 9600 - the double top is still in play. We continue to test the neckline as currently we're still priced at 9.7K and the break upwards thus far is appearing on decreasing volume. Bulls are overstretched.

Looks like a bearish wedge has formed. I expect a drop in the next 24-48 hours. Target looks like 6.7K to 7K as a range. It'll take a few days to get there assuming we break down soon.

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ملاحظة

Updated screenshot of my chart. I got two targets. The double top pattern targets 7K. AND at the same time, the flag pole of the bearish wedge targets 5.7K. Take your profits between that range is my suggestion. Remember to DYOR.

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ملاحظة

Just a quick note, my screenshots are of the 4 hour. NOT the Daily. Use your own charts and see for yourself what I'm referring to in my previous updates.

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ملاحظة

We have confirmation of breakout of Wave B. We're on the final leg down to 7K (maybe lower). If you're planning to short, best entry point would be $8850. As always, DYOR.

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ملاحظة

Looks like we may not reach the target of 7K. Hammer candle has formed on the daily chart and by the looks of it, may be confirmed with a green candle that comes after it. If we close today below 7.6K, then we'll continue down. If we close today above 7.6K, then I think we're headed up.

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Opps, sorry I meant 8.2K. Getting a higher low close, confirms the hammer.

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ملاحظة

Looks like the bears still want their cut, pushing prices down. Dipped to 7.8k again. I'd be cautious if trading below 8k. Could bounce at any moment. I'm seeing a lot of bullish divergence in the RSI lately on several timeframes.

Always DYOR, and see you at the moon.

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أغلقت الصفقة: تم الوصول للهدف

Didn't reach 7K, but we got as low as 7.2K. This is what I always suggest taking profits sooner than the target -- shit happens.