Community post
BTC double top pattern
Hi everyone,
Today I would like to share with you a pattern on the BTCUSD chart. BTC is in everyone's mind, this is the main crypto in this world, and this will be the last to stay alive.
You can clearly see that we have a double top pattern. BTC has made x13 since early 2017. It needed a stop to take a breath. The BTC follow perfectly the theoric pattern with a back on the neckline, and then a pullback on the support @7500$
If we can bounce on the 7500$ it would be a double bottom, and then we could start a new bullish trend.
If we fail to bounce, we could go to the next support @ 6000$. Don't miss the sales !
Thanks for reading !
Replies (5)
Thanks for overall perspectiove, @julebut!
Here is the zoomed in ending of the A-B-C corrective wave:
https://steemitimages.com/0x0/https://steemitimages.com/DQmUW4yFSZeizHYVTEs3746c5sDrXjzWimnFQNs6asGK5Uq/8000level.png
I guess, kind of the double bottom can be drawn now, after the crossing $8 000. See my recent post, if interested in details.
This is your standard market cycle, yes blind mice, a bubble. Where do you think we are, certainly not at the bottom. Market cap will grow eventually, it just could be a while.
I have seen this chart many time, I think the denial is soon. Keep faith and you will be rewarded. If you wanted to invest more when the BTC was @ 17k, why won't you know?
Don't miss the sales and take profit higher.
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