The Bitcoin rally is over after forming a double top pattern

BTCCHINA:BTCCNY   Bitcoin / Chinese Yuan
After a fast and furious price advance in Q4 2015 the weekly RSI now looks like a double top and therefore the only direction for the BTC             price is back down to test the deep buy support (which could be around 1900-2100 CNY             ).

Short entry: 2750 CNY             (not everyone was able to sell during Christmas 2015 ...)
Stop loss: 2800 CNY            
Target: 2050 CNY            

P.S. If the price falls and stays below the SMA 200 this would confirm my bearish "Untangle the Bitcoin             angle" scenario.
well done analysis. I also hold all my bitcoins. I will be selling them in 2020 for $20,000
Yup and you forgot to mention the H&S that formed at the top. Once we break 400 both the double top and H&S will confirm for me. then 315 will be visited.
etrada BitcoinGuru
You must be talkin bout BTCUSD. RSI at weekly is still close to overbought. If it still rises, I'll sell my last little pots.
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