The BTC/USDT chart shows a pattern that could be interpreted as a DOUBLE TOP pattern in the daily time frame. A double top is characterized by two peaks at roughly the same price level, separated by a trough.
In this chart:
- The first peak is around 67,553.66 (24h High).
- The second peak appears to be around a similar level.
- The price then drops to form a trough, before attempting another peak but failing to surpass the previous high.
To confirm a double top, the price should break below the level of the trough between the two peaks, which would signal a potential reversal of the upward trend.
Keep an eye on the price action around the 65,555.00 (24h Low) level, as a break below this could confirm the double top pattern.
STAY safe, stay informed
