Recently, updates have been slower, haha, mainly because of Live sessions. Today, I will provide a detailed analysis of Bitcoin on the daily chart.



From a structural perspective, the daily chart shows the formation of a double top at 125,000 USD, which is a clear top and beyond doubt.

After the recent video analysis, I again see the advantage of a short position. The advantage lies in the high points on the left side of the daily chart at 110,000 USD and 111,600 USD. So, could the right side form a range-centered middle zone around this level?

At this point, you'll notice that the daily chart is forming a complex head and shoulders top. What is a complex head and shoulders top? It’s a top with a double head, with shoulders on the left and right sides.

Looking at this in conjunction with the July low of 74,800 USD, consider whether this structure might be completed in the future. That is, once the price drops below 100,000 USD, the structure of Bitcoin’s decline will be confirmed.
BTC-0.59%
View Original
This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.
  • Reward
  • Comment
  • Repost
  • Share
Comment
0/400
No comments
Trade Crypto Anywhere Anytime
qrCode
Scan to download Gate App
Community
English
  • 简体中文
  • English
  • Tiếng Việt
  • 繁體中文
  • Español
  • Русский
  • Français (Afrique)
  • Português (Portugal)
  • Bahasa Indonesia
  • 日本語
  • بالعربية
  • Українська
  • Português (Brasil)