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BTC Bitcoin Double Top on Overbought Area

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BINANCE:BTCUSDT   Bitcoin / TetherUS
Bitcoin Price Target was reached after the Wall Street-backed EDX Exchange Launch:

Bitcoin has formed a double top pattern within an overbought area, which suggests a potential bearish reversal in the near term. The double top pattern is characterized by two distinct peaks at approximately the same level, indicating a potential exhaustion of buying pressure and a shift towards selling pressure.

Considering this double top formation and applying Elliott Wave theory, there is a projected price target of $28,300. Elliott Wave analysis aims to identify repetitive patterns in market cycles, including impulse waves and corrective waves, to predict future price movements.

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