A double top pattern has emerged on the Bitcoin $BTC /USD 1-hour chart, signaling a potential bearish reversal. This formation consists of two consecutive peaks near the same price level—recently around $108,000—indicating that bullish momentum is weakening. Confirmation of this pattern typically comes with a break below the neckline support, which is currently identified near $91,300.
If $BTC closes below this neckline, it could trigger a further decline, with technical targets as low as $75,000 based on the measured move method6. Traders should also monitor interim support around $100,000 and $92,000, as breaks below these levels may accelerate selling pressure.
While the weekly RSI shows bearish divergence, suggesting waning upward momentum, it’s important to watch for any failed breakdowns or sudden reversals, as Bitcoin’s volatility can lead to rapid changes in trend direction.
In summary, the double top on the 1H chart is a clear bearish signal—if neckline support fails, expect increased downside risk.
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