#BTC Double Top Bearish Structure, Beware of Pullback

29 May

📊#BTC Double Top Bearish Structure, Beware of Pullback📉

🧠From a structural perspective, we broke below the neckline of 106510, which means that the bearish double top pattern is established, so we need to be wary of the coming of a plunge.

➡️As I said in my last analysis, we stabilized and rebounded after testing the support near H1, but I was not satisfied because my order was swept after I moved up the SL, so we cancelled the risk and also meant that we might cancel the possible future profits.

➡️However, I still succeeded because I stuck to my trading plan and tried some short trades after the price rebounded near the blue resistance line. 50% of the profit has been locked in because I am worried that the market will jump back and forth between support and resistance, and there is a gap to be filled near 109200.

⚠️If we fail to hold the support near 106500 tomorrow, then we will see a plunge.

Let's see👀

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30 May

İşlem aktif

#BTC Update:

We didn't hold support near 106500, so the support area will turn into resistance.

The main direction is biased towards the bearish trend because of the double top short structure, and the extreme pressure is located at the gap near 109200.

After falling to around 105000, it found support and rebounded quickly. I need to wait patiently for new trading signals to appear before I consider adding short positions.

Let's wait and see where it will be blocked. ☕️

5 Haz

İşlem kapandı: hedefe ulaştı

The final target is reached and the short order is closed