BTC Double Top (M Pattern) - further downside possible
BTC has formed an almost perfect Double Top, with the ATH resistance around 108,500. The bottom of M pattern is signified by a double bottom formation around 91,400. Price broke that level, retested as resistance on 3rd March, forming a lower high - lower low pattern.
The M pattern's range shows further downside to 74,000, which is also a good resistance from previous year's consolidation (March to November 2024).
Expecting BTC to reach this price around April 2025, which may be a good time to accumulate.
The M pattern's range shows further downside to 74,000, which is also a good resistance from previous year's consolidation (March to November 2024).
Expecting BTC to reach this price around April 2025, which may be a good time to accumulate.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.