As we can see price had successful breakout to downside and broke strong support of trendline and more fall is expected after retest this Breakout .
Two charts shared and the that is the reason of our Title too
1.first chart: we can see major double top that is forming and we may have huge correction after breaking neckline support that is around price 52700$ and targets that we are looking for mentioned on chart with green lines and red path.
2.Second chart : we have two double top that formed and price had successful breakout of neckline and results are obvious on chart and we shared short analysis around both of them .
Notice :what about Bullish market and what are some conformation for that ? 2 major reasons can pump price and they are: A. we are waiting for retest of this green trendline that broke if that not happen and price go above green trendline that increase potential of rise : what is expected now:
B. if strong resistance of 60K broke then again that increase potential of rise .
DISCLAIMER:. 1.trade carefully and have stop loss for sure 2.Past performance is not indicative of future results.
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✔feel free to share your ideas or opinion below and lets discus ✔
I am following you for the last 2 months and man I hate to admit but your analysis about BTC dump are spot on.. I have one question to ask.. Do you get some inside information from dumping whales in advance??? hahaha
tommytoan11
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weve had the measured move down from the neck line of recent double top (hit 0.5 fib, 53500). It was mostly wick tho, we may want to test it more thoroughly.
I see tons of weakness, no volume. Its leaning towards coming down further. 53k for me 24 to 48 hours
@CHARTING-CHIMP, he was right. I Don't Know how but sure as this the genie knew
CHARTING-CHIMP
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@gabekillinger22, No, he was not right at this time. He's saying that 44k is the least it'll dip to meaning he thinks that this author is wrong and the BTC is going to 20k hell. It dipped to 45k, didn't even touch 44k. So no, not right. Could it happen, idk. But I think we're in the may/june area of 2017 more than anything. Especially if you look at the Stock to flow model. Some say the end of sept is the end of the run. I think we'll go a little further than that. But who knows