Possible XTZ Double top formation and bearish reversal
Updated
Double top formation will be confirmed if the price will fall below a support level between the two prior highs and this can be a signal that the overall uptrend is losing its momentum and the trend might be going sideways, or even reversing since double tops often lead to a bearish reversal. So in case the price will unfold like this, I will not enter in longs and will wait for bottom around 2,5$.
What you think about that?
What you think about that?
Note
P.S. This is a reversed chart.Note
Well I didn't suppose this idea to play out but it did
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