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Author Topic: Is it a double top?  (Read 2388 times)
Alley
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July 22, 2015, 03:46:32 PM
 #21

I agree.  This steady no volume period seems like what happened in the 220s. 
lebing
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July 22, 2015, 04:04:46 PM
 #22

Double top matters in progressive uptrend.


"With any reversal pattern, there must be an existing trend to reverse. In the case of the Double Top Reversal, a significant uptrend of several months should be in place."

this.

Bro, do you even blockchain?
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July 23, 2015, 08:20:12 AM
 #23

the price can't touch more top in the next futrue. also $300 in the end of year

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jl2012
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July 23, 2015, 08:36:11 AM
 #24

Double top matters in progressive uptrend.


"With any reversal pattern, there must be an existing trend to reverse. In the case of the Double Top Reversal, a significant uptrend of several months should be in place."

this.


Well there was an uptrend from $150 on January 14th to almost $300 on March 12th.

You can't say there is a "trend" just by connecting 2 points

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Natalia_AnatolioPAMM
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July 23, 2015, 09:38:42 AM
 #25

the price can't touch more top in the next futrue. also $300 in the end of year

agree 100%
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July 23, 2015, 05:35:43 PM
 #26

Double top matters in progressive uptrend.


"With any reversal pattern, there must be an existing trend to reverse. In the case of the Double Top Reversal, a significant uptrend of several months should be in place."

this.


Also agreed. A double top of such magnitude would only take on importance if there was an equally large uptrend behind it. The pattern (along with head & shoulders tops, triple tops, etc) implies distribution where quality of share ownership becomes poor when strong hands sell their shares to starry-eyed buyers (future weak hands) near the market top. This transfer causes the bear market.

One only sees this type of distribution after a long bull market. After a long bear market, the strong hands are busy collecting to distribute again at higher prices. It's much more likely that's what's happening here--accumulation and not distribution.
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