Bitcoin vs USD TL Breakout and Double Top Formation
Description: We have published Long Trade Setup based on I SHS Pattern and Bearish Shark Pattern Short Setup last week.Trades have reached their targets.BTCUSD is likely forming a double top pattern. The pair has broken the shorter term rising trend line. It is likely to test the neckline of the double top pattern where triple bottom occurs. The breakout of the necklne will trigger the bearish move.
Pair / Instrument:BTCUSD
Time Frame: H4
The trend in the Timeframe: NEUTRAL
The trend in the Daily Chart: NEUTRAL
Trade Based On: Trendline breakout and double top pattern.
Accuracy: 98% ( If the pair reaches the first target and breaks out the neckline )
Recommended Lot Size:
AREA OF THE ENTRY: 6.556
STOP LOSS: Above 6.750
TARGET 1: 6308
TARGET 2: 6.180
TARGET 3: 5.900
You can follow the trade:BTCUSD Double Top
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DISCLAIMER: This is a technical analysis study, not an advice or recommendation to invest money
Bitcoin BTCUSD : Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these securities. You should do your own thorough research before making any investment decisions. Chartreaderpro does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Forex involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility.