BTCUSDT - 200d Moving Average DoubleTop

26 ago 2022

Hi Traders, Investors and Speculators 📉📈

Ev here. Been trading crypto since 2017 and later got into stocks. I have 3 board exams on financial markets and studied economics from a top tier university for a year. Daytime job - Math Teacher. 👩‍🏫

For a while, I've been talking about how BTCUSDT is overdue for a bounce as it was trading underneath the moving averages for an extended period of time. We have since come back up to the 200 day MA, but we see a clear double top and rejection at this point. There is obviously still a large supply zone here, and the price will be forced lower to find more buying pressure.

Please see the two posts at related ideas on two proposed bottoms.

Have you heard of the Dunning-Kruger Effect? Check out this idea 👀

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