BitcoinShort
Bitcoin (BTC/USD) forming a potential triple top
The chart shows Bitcoin (BTC/USD) forming a potential **triple top** pattern at the key resistance zone of around 102,600. This is a bearish reversal structure, signaling potential downside if confirmed. Here's the short analysis:
1. **Key Observations**:
- **Triple Top Formation**: Indicates strong resistance at the 102,600 zone.
- **Bearish Structure**: Price previously rejected from this zone twice, leading to a significant decline.
- **Break of Structure (BOS)** and **Change of Character (ChoCh)** labels hint at bearish momentum after failed attempts to break resistance.
2. **Next Steps**:
- **Wait for Confirmation**: The chart suggests waiting for bearish confirmation, such as a strong rejection or a BOS to the downside, before entering a sell position.
- **Target Levels**: Downside targets could be the next significant support levels, likely around 100,000 and 96,000, as indicated by the arrow.
3. **Risk Management**:
- If price breaks above the resistance (invalidating the pattern), bullish momentum could continue, so stop-loss placement is essential above the resistance zone.
BTCUSD
1. **Key Observations**:
- **Triple Top Formation**: Indicates strong resistance at the 102,600 zone.
- **Bearish Structure**: Price previously rejected from this zone twice, leading to a significant decline.
- **Break of Structure (BOS)** and **Change of Character (ChoCh)** labels hint at bearish momentum after failed attempts to break resistance.
2. **Next Steps**:
- **Wait for Confirmation**: The chart suggests waiting for bearish confirmation, such as a strong rejection or a BOS to the downside, before entering a sell position.
- **Target Levels**: Downside targets could be the next significant support levels, likely around 100,000 and 96,000, as indicated by the arrow.
3. **Risk Management**:
- If price breaks above the resistance (invalidating the pattern), bullish momentum could continue, so stop-loss placement is essential above the resistance zone.
BTCUSD 
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If you want to receive more Analysis signals, please join our Telegram channel. t.me/+JLFlD0eg3LFjNjU8
Clause de non-responsabilité
Les informations et les publications ne sont pas destinées à être, et ne constituent pas, des conseils ou des recommandations en matière de finance, d'investissement, de trading ou d'autres types de conseils fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.