Double Top Trend Reversal

[WhatTheGox]

Double top trend reversal or Not, we are going to go down hard. I expect sub-400 in the next few days. Short it, short it, short it!!!

Its already gone down hard and you want to short it? would have been way better to short when we were at $450 and not moving higher.  Now is the time to get back in.  Also its down moon everyone knew we'd see a little dip.

[Enjorlas]

I don't mean to toot my own horn but I'm pretty happy about myself today. This was the first time I made a prediction on the forums and it came true.

[uki]

Double top trend reversal or Not, we are going to go down hard. I expect sub-400 in the next few days. Short it, short it, short it!!!

Its already gone down hard and you want to short it? would have been way better to short when we were at $450 and not moving higher.  Now is the time to get back in.  Also its down moon everyone knew we'd see a little dip.

I agree there is relatively little room to the downside now. The support zone between $400 and $350 is full of support lines and one of them should stop the correction. Going short from here is not my risk/reward game, especially that there are little arguments for bears at the moment (most of the things that pop up in the news are not new at all (Cryptsy, Hearn), or of little importance.

[xhomerx10]

I don't mean to toot my own horn but I'm pretty happy about myself today. This was the first time I made a prediction on the forums and it came true.

 That was a good call.  How long have you been doing trend analysis?

[afbitcoins]

Double top was a good call. But I don't think trend has changed when looking on weekly timeframe. I expect a fairly short lived bearish phase before bull moves resume

[uki]

Double top was a good call. But I don't think trend has changed when looking on weekly timeframe. I expect a fairly short lived bearish phase before bull moves resume

Exactly. These were exactly my words, in the fourth post in this thread:

I would be very careful with such an early call. For now what we clearly see on the picture you attached (and even better if you zoom out to 3 year perspective) is that we just reversed the 18-month long bear trend. From more or less summer 2015 we started to recover from that bear, but that doesn't mean that we will be growing infinitely long. There will be corrections on the way - that is something normal, yet it won't mean immediately another trend reversal. Unless we speak about extremely short time perspective, the trend is up for now. Double top formation you mention may start a correction, but the depth of this correction will show where we are.