BTCUSD formed a doubletop and has dropped through the neckline (61.8 Fibret). Price target is the 23.6% Fibretracement at around 7200$. Notable: SMA200 could be a strong support at that area, definitely a rebuy opportunity.
retested the neckline and now broke the 50% FIbonacci Retracement. we could now drop even lower to the estimated target (SMA200)
Trade closed: target reached:
we hit the estimated target (SMA200) and bounced back really quickly