Double Top Break and Retest: price is showing signs of weakness with a break below the double top neckline followed by a retest, suggesting potential bearish pressure.
VWAP Break: The VWAP (Volume Weighted Average Price) has been breached, indicating a shift in market sentiment and potentially favoring the bears.
Bearish Divergence: A bearish divergence is observed, adding to the indications of potential downside movement.
Weakness Confirmation:
If the price fails to hold the critical level at $41,666, it could trigger further downside movement.
Target:
The initial target is set at the 200 moving average (MA), acting as potential support in a bearish scenario.
Risk Management: Consider implementing risk management strategies, including stop-loss orders, to protect against adverse market movements.