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SubZero

Double top, needs more consolidation to break the downtrend

Short
Bitcoin / TetherUS (BINANCE:BTCUSDT)  
SubZero Updated   
BINANCE:BTCUSDT   Bitcoin / TetherUS
Double Top or Bottom
4
0
doubletoporbottom
Good hold around 8470 - 8500 area, double top around 8920 (coincidentally or not 0.236 fib). R:R looks more favorable in the current range towards the downside. Bearish ichimoku cloud above also confirms.
Comment:
Descending triangle formed, maintaining bias towards bearish in the near term.
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Comment:
That triangle just got invalidate by a very powerful move, 8700 might be the new floor here and break above 8920 is bullish
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Comment:
8920 will hold for now given the huge divergence on volume this move is getting exhaustive on momentum
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Comment:
Bullish price action, potential break out (up)
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Comment:
yup
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