This Potential Double Top is still valid on the 2 Week Chart. Around the beginning of June is when we should know the macro price direction. Around the beginning of June is when the US Debt Ceiling needs to be addressed so if there's a default then we could see this Double Top playing out.
Currently the 200 Moving Average on the 3 Day Chart is around 31.5k. If Bitcoin pumps and faces resistance at that level, then we could see a potential Double Top form.
Bitcoin is still trading below this important Green Trendline on the 1 Day Chart. Technically Bitcoin has until around May 29th to let us know which way it wants to go.
Review of this Macro Descending Channel on the 1 Week Chart.
In the short term it is possible that Bitcoin can show some bullishness.
If Bitcoin continues going sideways for the next month then we could see this Triangle Top play out.
The S&P500 is running into macro resistance while Bitcoin hit its macro resistance about a month ago.
This is Bitcoin Vs DXY on the 2 Week Chart. Whenever the DXY started forming a Double Bottom, that was when BTC already had / was near its peak. It appears the DXY is currently forming a Double Bottom.
Bitcoin appears to be breaking out of this potential Falling Wedge in the RSI on the 6 Hour Chart.
Bitcoin needs to flip 28.8k into support in order for me to start posting more bullish price predictions.
The only thing I can say about this chart is that the price just touched the 200 Weekly MA. I'm not sure if this Ascending Channel is drawn correctly but I hope I didn't draw this correctly.
Bitcoin is trading within this Expanding Triangle on the 3 Day Chart. Sometimes before Bitcoin crashes, it does a quick pump before dropping. That's one scenario I have in the back of my mind.
Bitcoin has been breaking down from this Diamond pattern on the 1 Day Chart. We saw yesterday's daily candle close as a hammer candle so that makes me think the price could be bullish over the next few days.
Bitcoin is still trading within this Ascending Channel on the 2 Day Chart. The areas I'm looking at are the Central Channel (29k) and the Lower Channel (25.2k).
This is a scenario I'm watching closely because from a whale's point of view, it would make sense to liquidate the shorts before actually dropping the price. It would be crazy if BTC does a fast 10% pump then it drops immediately. I've seen that happen before and it wouldn't surprise me if it happens again.
The RSI on the 3 Day Chart is currently resting on the Upward Trendline. There's not much to say besides this is something I'm watching closely.
If you draw the trendline of this potential Double Top like this, then technically it has a price target around 12k. If this happens then the price could see a bounce around 19.2k first.
It looks like Bitcoin could be playing out this similar pattern from Amazon back in 1999-2002.