What are some real-world examples of cryptocurrencies that have experienced bullish or bearish double top patterns, and how did the market react?

3 answers

• Mar 22, 2022 · 3 years ago
  Sure! One example of a cryptocurrency that experienced a bullish double top pattern is Bitcoin. In 2017, Bitcoin reached a peak price of around $20,000, then retraced back to around $15,000 before making another attempt to break the previous high. However, it failed to do so and started a downtrend. The market reacted with a significant sell-off, causing the price to drop to around $3,000 in the following months.
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• Mar 22, 2022 · 3 years ago
  Another example of a cryptocurrency that went through a bearish double top pattern is Ethereum. In early 2018, Ethereum reached a high of around $1,400, then retraced back to around $900 before attempting to break the previous high. However, it failed to do so and started a downtrend. The market reacted with a sell-off, causing the price to drop to around $80 in the following months. It was a tough time for Ethereum holders.
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• Mar 22, 2022 · 3 years ago
  BYDFi, a popular decentralized finance platform, also experienced a bearish double top pattern. After reaching an all-time high of $100, the price retraced back to $80 before attempting to break the previous high. However, it failed to do so and started a downtrend. The market reacted with a sell-off, causing the price to drop to $20 in the following months. Investors were disappointed, but it presented an opportunity for new buyers to enter the market.
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