BTC/USD is forming Double Top pattern possibly Adam & Eve Double Top.
Pattern becomes valid once brake support which is bottom of valley.
Al in place so far:
Price trend - Upward leading to the pattern.
Shape - Two distinct tops that look different. Adam tops appear first and are narrow, inverted V’s but Eve follows Adam and is more rounded looking and wider than Adam.
Valley - The valley drop between the tops should measure 10% - 20%, but allow exceptions.
Top price - The variation between price peaks is small, less than 3%. The two tops should appear to peak near the same price.
Confirmation - The double top confirms as a true double top once price closes below the valley between the two peaks.
Volume - Usually higher on formation of the left peak than the right.
Credit - Thomas N. Bulkowski
source - thepatternsite.com/aedt.html
IF YOU LIKE TRADING IDEA SMASH THAT LIKE BUTTON!!!
This information is not a recommendation to buy or sell.
Pattern becomes valid once brake support which is bottom of valley.
Al in place so far:
Price trend - Upward leading to the pattern.
Shape - Two distinct tops that look different. Adam tops appear first and are narrow, inverted V’s but Eve follows Adam and is more rounded looking and wider than Adam.
Valley - The valley drop between the tops should measure 10% - 20%, but allow exceptions.
Top price - The variation between price peaks is small, less than 3%. The two tops should appear to peak near the same price.
Confirmation - The double top confirms as a true double top once price closes below the valley between the two peaks.
Volume - Usually higher on formation of the left peak than the right.
Credit - Thomas N. Bulkowski
source - thepatternsite.com/aedt.html
IF YOU LIKE TRADING IDEA SMASH THAT LIKE BUTTON!!!
This information is not a recommendation to buy or sell.
Commentaire:
First target reached. Now we have to break support and we having valid Double Top with potential 25% price drop from support
Commentaire:
If we break the support and pattern becomes valid these are my two targets
Commentaire:
First target reached
Commentaire:
I expect small pullback now and after pullback attempt to drop price to second target.
Commentaire:
Falling wedge on 1H and falling volume suggest recent price rise is only a pullback which won't last long. Possible price drop
Commentaire:
wedge broken. going down
Commentaire:
Another broken rising wedge, this time 10M chart
Expect price going down to support again
Commentaire:
1D chart testing resistance
If broken be prepared for going up.
Commentaire:
Pattern still valid. Daily chart shows we experienced pullback yesterday and now we are back on track to reach second target.
Commentaire:
Buyers are not giving up. BTC is trying to breakout trendline. For now looks like there is more sellers on market pushing price down. Patience is required now.
Commentaire:
BTC has formed ascending broadening wedge 1H chart. Downward breakout 73% of the time.
Commentaire:
We will stop here for a moment. Support.