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The double top trend is turning bearish, with the bears gaining the upper hand. On the daily chart, the previous double top pattern has been confirmed. After the neckline was broken, the price initiated a rapid decline, and the measured move of the double top pattern is gradually being realized.
On the four-hour chart, the price repeatedly tests within the downward channel. Each time it touches the upper boundary of the channel, there is fierce selling pressure. After breaking below the lower boundary of the channel, the downward space further opens up.
From the order book, sell orders are significantly more than buy orders. The bullish support is weak, and even slight selling pressure can cause the price to drop sharply.
Trading suggestion: Short around 2960-3020, targeting 2860-2740. If broken, the decline may continue further, with a long-term target of 2400.
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