Bitcoin (BTC) $99,231.3 The price, ‘Double Tepe’ called a decrease -oriented turn -oriented model can decrease to $ 75,000 if triggered. This technical analysis figure involves the fact that the two consecutive summits are formed at similar levels and the breaking of the trend line drawn from the bottom point between these peaks.
What is the Double Tepe Model?
The double hill model occurs when the price of a financial asset rises to a certain level of resistance twice and then decreases. The fact that the second summit is close to the first summit and the combination of intermediate bottom points with a certain trend line indicates that the rise momentum of the market slows down.
Bitcoin’s current status
Bitcoin has not been able to stay above the Summit of December last week, withdrawn up to $ 100,000. This shows that BTC is the double hill model and that the neck line support is around $ 91,300.
Potential price target
If Bitcoin closes under the neck line level, this may confirm a return to the downward trend from the rise trend. When this scenario is realized, the price is expected to decline to $ 75,000. This objective was calculated by using the dual peak and neck line by removing the difference between the dual peak and neck line using the moderate movement method.
Investors and analysts closely follow Bitcoin’s potential technical indicators. Changes in market dynamics will play an important role in determining future price movements.
Such technical formations in the crypto currency market provide investors valuable information about market trends. However, it should be remembered that not every technical analysis instrument gives definite results and other factors should be taken into consideration.
Finally, monitoring various global and local factors affecting Bitcoin’s price movements can help to make investment decisions more conscious.
Responsibility Rejection: The information contained in this article does not contain investment advice. Investors should be aware that crypto currencies carry high volatility and thus risk and perform their operations in line with their own research.
