Bitcoin

Double Top Formation in BTCUSD

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I am watching BTCUSD now that it has formed a Double Top reversal pattern. The 2 dotted red lines represent support and resistance. The solid red line in the middle represents the muddy trench or value area. The yellow circle down at support is the area to watch for a confirmation of a breakdown. The Volume Profile tool shows that there is a lot of volume traded between 34k-32K which confirms the support level.

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