ACH/USDT) is currently showing signs of a potential bearish reversal after forming a double top near the resistance zone. Additionally, the RSI divergence suggests weakening bullish momentum, increasing the probability of a downward move.
Trade Setup:
Entry Price: 0.03367 (Below neckline support)
Stop Loss: 0.03753 (Above resistance to avoid stop hunts)
Take Profit 1: 0.02981
Take Profit 2: 0.02589
Technical Outlook:
Double Top Formation: A clear bearish pattern, signaling a potential trend reversal.
RSI Divergence: Momentum is weakening, suggesting a shift from buyers to sellers.
Breakdown Potential: If the price breaks below the neckline, further downside movement is expected.
Strategy:
Traders should watch for a confirmed breakdown below the neckline before entering short positions. If rejection occurs and the price moves back above resistance, reconsideration may be needed.
Trade Wisely & Manage Risk Effectively!