MichaelB.Hensley

Too early to be sure but, still looking like a double top setup.

Corto
COINBASE:BTCUSD   Bitcoin
The relative strength index is showing a further weakening of BTC, as it approaches its previous high. If it fails to break and close a candle above this price point we may see the formation of a double top. A double top signal during a huge breakout, has historically been the turning point for the BTC chart. While there is both a daily candle trend line, as well as a supporting fib line... the formation of a double top may be damning enough to break through them - which would likely lead to the continued breakdown. Is $40k the new high of this breakout cycle before BTC cools off again? We'll see.
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