🔶 Golden Lion Trading | BTC/USDT Double Top Alert! 🔶

📊 BTC Price Analysis:

The Double Top Pattern has emerged on the BTC/USDT monthly chart! This is a classic bearish reversal signal, often indicating the end of an uptrend and the potential start of a downtrend.

What is a Double Top Pattern?

1️⃣ First Peak: BTC hits a strong resistance level ($99,588.01) and faces rejection.

2️⃣ Second Peak: It retests the same resistance level but fails to break through.

3️⃣ Breakdown: If the price breaks below the neckline support (around $71,336.91), a significant downtrend could follow.

Key Observations:

🔸 BTC is currently trading at $98,464, just shy of the resistance zone.

🔸 RSI is showing overbought conditions, hinting at potential selling pressure.

🔸 Watch for a neckline breakout to confirm the bearish trend!

💡 Trading Tip:

This pattern could offer lucrative opportunities for traders! Short positions may be favorable below the neckline, while buyers should proceed cautiously. Always use stop-loss to protect your capital.

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