BitcoinShort
"BTC/USD Double Top Breakdown: Targeting Key Support at 92,000"
This chart for BTC/USD highlights the following key points:
1. **Double Top Formation**:
- A clear double top pattern is visible around the 108,000 resistance zone.
- This is a bearish reversal signal, indicating a potential move downward.
2. **Break of Trendline Support**:
- The price has broken below the ascending trendline, further confirming bearish momentum.
3. **Price Targets**:
- The next major support zone appears to be around 92,000–88,000, which aligns with the highlighted horizontal demand area.
4. **Bearish Volume Profile**:
- Significant selling volume is noted after the rejection from the resistance zone, reinforcing the downside bias.
Summary:
BTC/USD is showing strong bearish signals after failing at the 108,000 resistance and forming a double top. The break of the trendline suggests a continuation to the downside, with a target around 92,000–88,000. Traders should watch for retests of the broken support or confirmation of further downside momentum.
1. **Double Top Formation**:
- A clear double top pattern is visible around the 108,000 resistance zone.
- This is a bearish reversal signal, indicating a potential move downward.
2. **Break of Trendline Support**:
- The price has broken below the ascending trendline, further confirming bearish momentum.
3. **Price Targets**:
- The next major support zone appears to be around 92,000–88,000, which aligns with the highlighted horizontal demand area.
4. **Bearish Volume Profile**:
- Significant selling volume is noted after the rejection from the resistance zone, reinforcing the downside bias.
Summary:
BTC/USD is showing strong bearish signals after failing at the 108,000 resistance and forming a double top. The break of the trendline suggests a continuation to the downside, with a target around 92,000–88,000. Traders should watch for retests of the broken support or confirmation of further downside momentum.
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If you want to receive more Analysis signals, please join our Telegram channel. t.me/+JLFlD0eg3LFjNjU8
Declinazione di responsabilità
Le informazioni ed i contenuti pubblicati non costituiscono in alcun modo una sollecitazione ad investire o ad operare nei mercati finanziari. Non sono inoltre fornite o supportate da TradingView. Maggiori dettagli nelle Condizioni d'uso.