Post
Topic
Board Speculation
Re: TA indicates a sharp drop soon
by
dragonvslinux
on 11/06/2020, 01:29:55 UTC
It looks like bitcoin has failed on so many occasions to breach 10k that a triple top could form both monthly and weekly!

It could, but there's still few days until the end of the week so too early to tell. Still another 20 days until the end of the month too.
The weekly candle would need to end in the red, and bearish looking, for me to follow this theory. The current candle doesn't suggest a rejection at all to me.

The way it keeps hammering into $10K on the daily chart is bullish to me. Usually when S/R gets tested over and over, it eventually breaks.

My thoughts exactly. A clear horizontal resistance (if you ignore the head fake or imagine it as a wick) with ascending support of higher lows. It's bullish.

I don't really buy the triple top theory either

Me neither.