FxWirePro: BTC/USD struggles to break above $600, good to sell on rallies

• Chart pattern formed - Double top  
   
• BTC/USD has formed a double top around $600 and slightly declining from that level. It is currently trading around $575.
   
• The pair is facing psychological resistance around $600 and the break will take the pair till $630 ((161.8% retracement of $502 and $294)/654/$773 in short term.          
   
• Minor trend is slightly weak as long as resistance $600 holds.
   
• On the downside minor support is around $550 (10 day EMA and also resistance turned into support) and any break below targets 525/$490 (61.8% retracement of $435 and $588.50)/$470 (resistance turned into support).
   
• Short term trend reversal only below $435 (20 th May low).

It is good to sell on rallies around $575-580 with SL around $605 for the TP of $550/$525/$505