Technical analysis by xugina78 about Symbol BTC: Sell recommendation (8/2/2024)

From the daily chart of bitcusd, the price formed a double top pattern around the top are of this bearish channel.Comparing with previous tops, more drop followed after a double top pattern.therefore, it might continue to go bearish for short-term.As our prediction last week, the price move in a bearish market after a double top pattern formed.And the price now is getting close with the support area from previous consolidation box.If it drop below this support area, it may drop to 47000 this week.