Bitcoin Double Top = $480
Steemfam, I just wanted to follow up on my previous post re: a possible double top pattern on the Bitcoin chart.
BTCUSD daily chart looks pretty bearish today. It broke down from the right side of what looks like a possible double top and whenever price breaks down from a strong resistance point (it's recent and previous high) I pay special attention to the volume. Heavy selling volume could be a sign of distribution leading to confirming the double top. Volume increased pretty heavy today so I would stay very guarded if holding ANY cryptos. A real double top pattern wouldn't be confirmed until price breaks below the low of $1809. If that happens, we would potentially see BTC at $480. Beware...
Conversely, if the recent high of $2948 is broken higher, then the double top wold be off the table. So, $2948 and $1809 are the levels that I'm watching both have huge implications technically.
Have a great rest of your day all!
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