Good evening,
So it looks like we have hit a double top formation. I posted a long trade earlier and I was dead wrong, but mentioned that 7500 was my sell point because I feared for this formation. Once the price broke support, the double top formation was confirmed.
I don't like shorting bitcoin, but I do feel we are heading further down as the double top formation is one of the most bearish signals there are. I'm holding my cash until I see a better price. Good luck everyone!
So it looks like we have hit a double top formation. I posted a long trade earlier and I was dead wrong, but mentioned that 7500 was my sell point because I feared for this formation. Once the price broke support, the double top formation was confirmed.
I don't like shorting bitcoin, but I do feel we are heading further down as the double top formation is one of the most bearish signals there are. I'm holding my cash until I see a better price. Good luck everyone!