2 hour double top with divergence - SHORT NEAR

Near has printed a double top on the 2 hour time frame with a 4 point bearish divergence. The double top also formed right where price rejected a couple days ago on the initial recovery (which may also indicate a potential M pattern). The 4 hour time frame is also in divergence, but only at about a 1 point.

Near falling from this level would be in line with expecting a rejection for BTC off 38-39k, given an initial retest of an area that once acted as support and fails almost always rejects on the first retest.

Targets are areas of support at 10.66 and 9.87, which also have confluence with the .618 and .88 fib levels.

Trade chiuso: obiettivo raggiunto:

Came to within 6 cents of 2nd target. Not out of the question for it to fall and hit that target, but there are no strong indications in that direction that I see as of right now.