Double Top Theory??

Mar 9, 2018

I am fairly new to this but have been doing my research and just wanted to publish my first prediction to see how I do so take it with a grain of salt. This is only for educational purposes. Mostly mine. LOL! On the 4 hour chart BTC appears to have made a clear double top as we have now passed the neckline. Not sure if it means anything additionally but I also noticed the neckline is right at the .236 Fibonacci retracement. I came up with my buy zone base off the past trend line of when the market has hit lows in the past and the top of the buy zone being around 7100 based off the double top theory that the price will drop about the same amount below the neckline as it did in between the two peaks. My only concern is that the MACD seems to be at the bottom of it's trend and I'm not sure that there is enough room for it to get this low and follow past trends, but I guess only time will tell. Like I said this is my first run at this so lets see how I do. Feel free to comment and give me any additional incite, let me know anything you think I have missed or could do to improve my prediction.

Buy in 50% @ 7100
Buy in 50% @ 6550

Stop loss @ 6142