- Double Top formation usually occupy by 2 peak of the price action followed by the weakness in momentum and volume on the way of making the second peak.
see the Indicator ( DMI, Volume Oscillator and Accumulation/Distribution Percentage) for quite clear divergence in recent price movement.
- Based on Double Top Pattern, Around 9700 would be a neckline support to keep in watch for BTCUSD, While the target number cannot be exact, this pattern had a probability to bring the price down around 6300 area .
- Invalidated this pattern once the price action somehow breach from 2019 ATH with massive bullish momentum and volume.
peace..
see the Indicator ( DMI, Volume Oscillator and Accumulation/Distribution Percentage) for quite clear divergence in recent price movement.
- Based on Double Top Pattern, Around 9700 would be a neckline support to keep in watch for BTCUSD, While the target number cannot be exact, this pattern had a probability to bring the price down around 6300 area .
- Invalidated this pattern once the price action somehow breach from 2019 ATH with massive bullish momentum and volume.
peace..
