Category: Tether (USDT)

Double Top Reversal continues after Neckline Re-test

Hi all!
I wanted to post another quick update on my idea that I have been sharing with you for the past week.

It looks like the double top reversal formation is still in play as the 9.3k-9.5k neckline region was re-tested and BTC             failed to break through it.
Most double top reversal formations undergo a re-test of the neckline and that is what appears to be happening here.

I also wanted to make note of the declining volume during this rally up, showing the bulls are losing momentum.

Another thing to take note of is the hidden bearish divergence that has showed up, yet another sign we are heading further down.

If this neckline breaks once again and the price can hold at least 3% under the neckline or hold for a significant period of time,
then our target range is still within $6.9k-7.1k, with the possibility of the 7.2k-7.4k range being the first bottom we hit.

If you like my ideas, please show me some support!

Thank you! =)