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Pattern Formed- Double Top
- BTC/USD has formed double top around $465 and started to decline from that level.. It is currently trading around $431. It is facing strong resistance around $465 and any further bullishness only above that level.
- Short term trend is bearish as long as resistance $465 holds.
- The pair's major resistance is around $465 and any break above will take the pair to next level till $480/$505 is possible. Overall trend reversal can be seen only below $400.
- On the lower side below $424 will drag the pair to next level $400/$380.
It is good to sell on rallies around $440-$445 with SL around $466 for the TP of $420/$400.
