Bitcoin (BTC) can fall to $ 75,000 if it triggers a so -called “superior double ‘bearish investment pattern.
A double top comprises two consecutive peaks at approximately the same price, with a trend line drawn through the low point between these peaks. The lack of broken above the previous peak, followed by a subsequent decrease, suggests that the upward trend is losing impulse.
Therefore, it is said that an eventual breakdown of the horizontal trend line, the double top neckline, confirms a change of up to load.
BTC has recovered at $ 100,000 at the time of writing, could not maintain a support point above December maximum last week. In other words, BTC seems to have formed a double top, with a neckline support placed around $ 91,300.
A UTC closed below the level of the neckline would confirm the bearish investment pattern, which potentially triggered a decrease to $ 75,000. This objective is calculated using the measured movement method, subtracting the gap between the twin peaks and the neckline from the level of the neckline.
