Is a Double Tops Bitcoin Chart Setup Bullish or Bearish?

A double top chart pattern has an M shape and it occurs at a market top therefore its name double top chart pattern & it signals a bearish bitcoin price reversal in the bitcoin market.

Once a double top chart pattern is confirmed then the btcusd market will be regarded to be bearish, therefore a double tops is bearish.

Double Tops Crypto Pattern

Double tops chart pattern is a reversal cryptocurrency pattern setup that forms after an extended upward trend. As its name implies, this double tops pattern setup is made up of 2 consecutive peaks that are roughly equal, with a moderate trough in between.

This double tops pattern formation is considered complete once bitcoin price makes second peak & then penetrates lowest point between highs, called the neckline. The sell crypto signal from this double top cryptocurrency setup setup formation occurs when the bitcoin crypto market breaks below the neck-line.

In Bitcoin Cryptocurrency, this double tops pattern setup is used as a early signal that the bullish Bitcoin trend is about to turn and reverse. However, double top cryptocurrency pattern setup formation is only confirmed once the neck-line is broken and the bitcoin cryptocurrency market goes below neckline. Neck-line is just another term/name for the last support level formed on the Crypto chart.

Summary:

Double tops btcusd crypto setup forms after an extended move upwards
This double tops pattern formation demonstrates that there will be a reversal in btcusd market
We sell when btcusd crypto price breaks out below the neckline point: see below for an explanation.

Is a Double Tops Bitcoin Setup Bullish or Bearish? - Is a Double Tops BTCUSD Chart Setup Bullish or Bearish?

Is a Double Tops Crypto Pattern Setup Bullish or Bearish?

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