BTC is showing weak signals during high-level consolidation, beware of double top breakdown risk
BTC has been consolidating at high levels, facing significant pressure around $110,000.
As analyzed yesterday, the price is tightly oscillating near the previous high, and if it cannot break through $110,600 (which coincides with the resistance level from May 27), the probability of a double top formation is very high.
From a technical perspective, it can currently be viewed as a typical double top structure. The trading strategy should focus on:
Setting the stop-loss above the double top peak, due to the small stop-loss space and large profit space, the risk-reward ratio is significantly advantageous. The core of trading is to grasp the risk-reward ratio; once conditions are met, one can position accordingly, but specific operations require personal decision-making.
