✴️ Tellor Double Top Confirmed!

9-Nov Tellor (TRBUSDT) produced a peak and moved to produce a retrace (small correction).
This 9-Nov top is the "orthodox" end of the bullish wave.

As part of an irregular correction, TRBUSDT produced a higher high based on a candle wick today, 20-Dec. This session ended up closing below the 9-Nov peak price, signaling that the top is in and a major correction will now develop.

Additional signals supporting bearish potential

➖ Highest volume came in both 9-Nov and 20-Dec, in both cases the session ended closing red.

➖ 20-Dec session (today) produced a very strong higher high but ended up closing lower. So a higher high based on candle wick but lower high based on candle close. The closure is the relevant signal.

➖ Very strong bearish divergence with the RSI. The RSI peaked 23-Oct while TRBUSDT peaked 20-Dec. A two months long bearish divergence.


Marketwide signals

➖ Bitcoin trading near its high for more than a year.

➖ ALTSBTC going bullish (this only happens when Bitcoin either topped or is about to enter a correction after a major bullish wave.

➖ Smaller Altcoins going extremely bullish. Small and medium-sized Altcoins only grow after the major Altcoins are done with their growth.


Conclusion

Buy low to sell high.

This one is pretty high up. Tellor grew more than 2,000% from its June low. This is great growth, great action and we love it, but the market moves in waves... It goes up and down, up and down... It went up strong, now it is very likely to go down for long.

Namaste.