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RE: BITCOIN (BTC): Beware of The DOUBLE TOP Pattern
Double tops do not represent 40% of underlying value. If dbl top target would be $1000
https://twitter.com/PeterLBrandt/status/917748810989707264
Hmm..
To each its own. I disagree.
This is very basic , the tops have to be separated by at least a month and they are , if it hits roughly the same area as previous high and retraces its a double top ...
Care to to explain or you just copy paste someone elses thoughts ?
See the quotation markdown and source
edit: This isn't a knock towards you or haejin. Peter is a pretty respectable trader on twitter so I'm just passin on info to see how two experienced TAs see things differently.
Thanks for the info .!
I’m definitely not in Peters and Haejin league..
Also not sure what Peters message is ?
Peter doesn't see it as a double top because it doesn't fit his rules, whatever that may be (twitter doesn't allow a lot of room to explain). He was saying on twitter talking to haejin that it was "too extreme" to be a double top and a few other things.
Haejin's rebuttled with his fractal proposal which is very interesting, I haven't done any historical research on using fractals like that but it definitely is an Elliot Wave thing. Just here observing and learning.
gotcha, those are his rules and he might be strict with them
but a simple search on google on double tops will show that this pattern and time it took to form fits ..we could easily break out to the upside but don't think so based on haejin a b c d e wave ,,,the e fits perfect with the double top ...so we should see a correction soon,,
what do I know really ??
good luck!!