{"id":190799,"date":"2023-09-24T01:30:00","date_gmt":"2023-09-24T08:30:00","guid":{"rendered":"https:\/\/www.brookstradingcourse.com\/?p=190799"},"modified":"2023-09-23T16:20:44","modified_gmt":"2023-09-23T23:20:44","slug":"bitcoin-double-top-lower-high","status":"publish","type":"post","link":"https:\/\/www.brookstradingcourse.com\/pt-br\/analysis\/bitcoin-double-top-lower-high\/","title":{"rendered":"Bitcoin Double Top Lower High below $27000"},"content":{"rendered":"\n<h2 class=\"wp-block-heading\">Market Overview: Bitcoin<\/h2>\n\n\n\n<p><strong><a href=\"https:\/\/www.investing.com\/crypto\/bitcoin\" data-type=\"link\" data-id=\"https:\/\/www.investing.com\/crypto\/bitcoin\" rel=\"noopener\">Bitcoin<\/a> <\/strong>Double Top Lower High on the Daily Chart. This week was quiet, the price tried to trade higher but then reversed down from the 20-week Exponential Moving Average (EMA). On the Daily Chart, the price is within a Sell Zone of a Bear Channel and formed a Double Top Lower High, Bears are selling, expecting a short-term move lower. <\/p>\n\n\n\n<h2 class=\"wp-block-heading\">Bitcoin<\/h2>\n\n\n\n<h3 class=\"wp-block-heading\">The <em>Weekly<\/em> chart of Bitcoin <\/h3>\n\n\n\n<figure class=\"wp-block-image size-full\"><a href=\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/09\/bitcoin-weekly-small-reversal-down-from-20-week-ema.png\"><img loading=\"lazy\" decoding=\"async\" width=\"1920\" height=\"1080\" src=\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/09\/bitcoin-weekly-small-reversal-down-from-20-week-ema.png\" alt=\"DOUBLE TOP LOWER HIGH on daily chart. Weekly chart of Bitcoin on September 24th 2023\" class=\"wp-image-190927\" title=\"\" srcset=\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/09\/bitcoin-weekly-small-reversal-down-from-20-week-ema.png 1920w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/09\/bitcoin-weekly-small-reversal-down-from-20-week-ema-300x169.png 300w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/09\/bitcoin-weekly-small-reversal-down-from-20-week-ema-680x383.png 680w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/09\/bitcoin-weekly-small-reversal-down-from-20-week-ema-768x432.png 768w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/09\/bitcoin-weekly-small-reversal-down-from-20-week-ema-1536x864.png 1536w\" sizes=\"auto, (max-width: 1920px) 100vw, 1920px\" \/><\/a><\/figure>\n\n\n\n<h3 class=\"wp-block-heading\">Past: Supports and Resistances<\/h3>\n\n\n\n<ul class=\"wp-block-list\">\n<li>The price did a Bear Breakout of a Trading Range formed between early 2021 and early 2022.\n<ul class=\"wp-block-list\">\n<li>Major Lower High.<\/li>\n\n\n\n<li>Bear Flag Breakout Point.<\/li>\n<\/ul>\n<\/li>\n\n\n\n<li>Then, the price continued to trend down within a bear channel until it reached strong supports and formed a reversal pattern: a HSB.\n<ul class=\"wp-block-list\">\n<li>2022 Low.<\/li>\n\n\n\n<li>Right Shoulder Low.<\/li>\n<\/ul>\n<\/li>\n\n\n\n<li>The Right Shoulder Low was followed by a Bull Breakout:\n<ul class=\"wp-block-list\">\n<li>HSB Breakout Point.<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n\n\n\n<h3 class=\"wp-block-heading\">Present: Market Cycle<\/h3>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Recently, there was a Bull Trend in the form of a Spike (broke the HSB) and Channel.<\/li>\n\n\n\n<li>A Bull Spike and Channel is normally followed by a Trading Range instead of a Bear Trend.<\/li>\n\n\n\n<li>Traders know that the Trading Range high is probably the actual 2023 high.\n<ul class=\"wp-block-list\">\n<li>The low of the Trading Range will likely be around a Major Higher Low of the Bull Channel. \n<ul class=\"wp-block-list\">\n<li>The Bull Channel began with a higher low at around $20000.<\/li>\n\n\n\n<li>The first target is the minor higher low around $24750.<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<\/li>\n\n\n\n<li>Between $24000 and $22000 there is a Buy Zone. <\/li>\n<\/ul>\n\n\n\n<h3 class=\"wp-block-heading\">Future (Inertia)<\/h3>\n\n\n\n<ul class=\"wp-block-list\">\n<li>The price it is likely to test the minor Higher Low at $24750.\n<ul class=\"wp-block-list\">\n<li>Then, even if there is a bearish short-term continuation, the price will likely find buyers ($22000 to $24000 area).<\/li>\n<\/ul>\n<\/li>\n\n\n\n<li>After there is a test of the minor Higher Low, the odds will favor a test of the actual 2023 high thereafter. <\/li>\n\n\n\n<li>If the price were to fall to the Major Higher Low at around $20000, it will need a strong bull reaction from there to avoid bearishness. <\/li>\n<\/ul>\n\n\n\n<h3 class=\"wp-block-heading\">Trading<\/h3>\n\n\n\n<p>It seems like the weekly Bulls have better odds finding a Swing Setup than the Bears. So far, 2023 has delivered a couple of Swing for the Bulls, and none for the Bears (scalps only). <\/p>\n\n\n\n<p>This week&#8217;s candlestick is not over yet (Bitcoin spot trades 24\/7); so far, it does not look like a good signal bar for the Bulls, neither for the Bears.<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Bulls: \n<ul class=\"wp-block-list\">\n<li>Last week we have said that the Bull Reversal Bar was not a good setup itself and that a good follow through was needed. This week is not a good follow through for a possible buy setup. <\/li>\n\n\n\n<li>The best is buying a reversal up, surging below the minor Higher Low.<\/li>\n<\/ul>\n<\/li>\n\n\n\n<li>Bears:\n<ul class=\"wp-block-list\">\n<li>They prefer to sell high, around the 2023 high, rather than selling below lows. <\/li>\n<\/ul>\n<\/li>\n<\/ul>\n\n\n\n<h3 class=\"wp-block-heading\">The <em>Daily<\/em> chart of Bitcoin<\/h3>\n\n\n\n<figure class=\"wp-block-image size-full\"><a href=\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/09\/bitcoin-daily-double-top-lower-high-at-sell-zone.png\"><img loading=\"lazy\" decoding=\"async\" width=\"1920\" height=\"1080\" src=\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/09\/bitcoin-daily-double-top-lower-high-at-sell-zone.png\" alt=\"\" class=\"wp-image-190918\" title=\"\" srcset=\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/09\/bitcoin-daily-double-top-lower-high-at-sell-zone.png 1920w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/09\/bitcoin-daily-double-top-lower-high-at-sell-zone-300x169.png 300w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/09\/bitcoin-daily-double-top-lower-high-at-sell-zone-680x383.png 680w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/09\/bitcoin-daily-double-top-lower-high-at-sell-zone-768x432.png 768w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/09\/bitcoin-daily-double-top-lower-high-at-sell-zone-1536x864.png 1536w\" sizes=\"auto, (max-width: 1920px) 100vw, 1920px\" \/><\/a><\/figure>\n\n\n\n<h3 class=\"wp-block-heading\">Past: Supports &amp; Resistances<\/h3>\n\n\n\n<ul class=\"wp-block-list\">\n<li>There was a Bull Breakout.\n<ul class=\"wp-block-list\">\n<li>Bull Breakout Low.<\/li>\n<\/ul>\n<\/li>\n\n\n\n<li>Then, the price went sideways, forming a Tight Trading Range that broke slightly to the downside.\n<ul class=\"wp-block-list\">\n<li>Tight Trading Range High (2023 High).<\/li>\n<\/ul>\n<\/li>\n\n\n\n<li>Moreover, the price entered an endless pullback until did a Strong Bear Breakout. After a Strong Bear Breakout, we expected a Second Leg Sideways to Down:\n<ul class=\"wp-block-list\">\n<li>Bull Trap and Lower High.<\/li>\n<\/ul>\n<\/li>\n\n\n\n<li>Now, the price broke above a Bear Trend Line, but there is a latest one.<\/li>\n<\/ul>\n\n\n\n<h3 class=\"wp-block-heading\">Present: Market Cycle<\/h3>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Until the price does not trade above the Bears&#8217; Stop Loss, it is still within a Bear Channel. <\/li>\n\n\n\n<li>The price created a Double Top Lower High around the top of the Bear Channel, which is always a Sell Zone. <\/li>\n<\/ul>\n\n\n\n<h3 class=\"wp-block-heading\">Future: <a href=\"Market Cycle\">Inertia <\/a><\/h3>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Since the price reversed down from the Sell Zone, it is likely to trade lower.\n<ul class=\"wp-block-list\">\n<li>The target is to get, at least, until the Bulls&#8217; Stop Loss. <\/li>\n<\/ul>\n<\/li>\n<\/ul>\n\n\n\n<h3 class=\"wp-block-heading\">Trading<\/h3>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Bulls:\n<ul class=\"wp-block-list\">\n<li>They should wait either for entering after the current thesis is over, or when the price reaches support and reacts.<\/li>\n<\/ul>\n<\/li>\n\n\n\n<li>Bears:\n<ul class=\"wp-block-list\">\n<li>They can probably sell below Thursday&#8217;s low, or below any good bear bar. Their first target is now where the Bulls have their Stop Loss.<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n\n\n\n<hr class=\"wp-block-separator has-css-opacity\" \/>\n\n\n\n<h3 class=\"wp-block-heading\">Market analysis reports archive<\/h3>\n\n\n\n<p>You can access all the weekend reports on the <a class=\"rank-math-link\" href=\"https:\/\/www.brookstradingcourse.com\/blog\/analysis\/\" target=\"_blank\" rel=\"noreferrer noopener\">Market Analysis<\/a> page.<\/p>\n\n\n\n<hr class=\"wp-block-separator has-css-opacity\" \/>\n","protected":false},"excerpt":{"rendered":"<p>Market Overview: Bitcoin Bitcoin Double Top Lower High on the Daily Chart. This week was quiet, the price tried to trade higher but then reversed down from the 20-week Exponential Moving Average (EMA). On the Daily Chart, the price is within a Sell Zone of a Bear Channel and formed a Double Top Lower High, [&hellip;]<\/p>\n","protected":false},"author":7271,"featured_media":190927,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_genesis_hide_title":false,"_genesis_hide_breadcrumbs":false,"_genesis_hide_singular_image":false,"_genesis_hide_footer_widgets":false,"_genesis_custom_body_class":"","_genesis_custom_post_class":"shadow","_genesis_layout":"","footnotes":""},"categories":[1904,136],"tags":[223,324],"class_list":{"0":"post-190799","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-bitcoin","8":"category-analysis","9":"tag-bitcoin","10":"tag-cryptocurrency","11":"entry","12":"override","13":"shadow"},"featured_image_src":"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/09\/bitcoin-weekly-small-reversal-down-from-20-week-ema.png","author_info":{"display_name":"Josep","author_link":"https:\/\/www.brookstradingcourse.com\/pt-br\/author\/cnjoseluis10gmail-com\/"},"_links":{"self":[{"href":"https:\/\/www.brookstradingcourse.com\/pt-br\/wp-json\/wp\/v2\/posts\/190799","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.brookstradingcourse.com\/pt-br\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.brookstradingcourse.com\/pt-br\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.brookstradingcourse.com\/pt-br\/wp-json\/wp\/v2\/users\/7271"}],"replies":[{"embeddable":true,"href":"https:\/\/www.brookstradingcourse.com\/pt-br\/wp-json\/wp\/v2\/comments?post=190799"}],"version-history":[{"count":0,"href":"https:\/\/www.brookstradingcourse.com\/pt-br\/wp-json\/wp\/v2\/posts\/190799\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.brookstradingcourse.com\/pt-br\/wp-json\/wp\/v2\/media\/190927"}],"wp:attachment":[{"href":"https:\/\/www.brookstradingcourse.com\/pt-br\/wp-json\/wp\/v2\/media?parent=190799"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.brookstradingcourse.com\/pt-br\/wp-json\/wp\/v2\/categories?post=190799"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.brookstradingcourse.com\/pt-br\/wp-json\/wp\/v2\/tags?post=190799"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}