Bitcoin Double Top

Bitcoin tries to break 2900.00 resistance level. We can see the 2nd attempt to pass through this level. But bearish candles show that the market is going to bounce from the resistance level. RSI confirms price reversal. Also we have to pay attention to possible double top chat pattern. It's a reversal chat patten which gives additional confirmation for possible downward movement. We should expect that the market drops to one of the uptrend lines. These lines will be good for buying. But don't forget that long trades must be opened only based on confirmed reversal signals. If the market passes trhough the uptrend line 3, the next reversal zones will be near 2400.00 and 2200.00 support levels. These levels also will be good for new buying.

Comment:

Price broke the uptrend line 1. The next reversal zone will be near the uptrend line 2 and 2600.00 support level.

Comment:

Price broke the uptrend line 2. Probably we'll see a short term downward movement to 2600.00 support level. If price returns above the uptrend line 2, it will be a signal confirming a further upward movement.