🚨 Bitcoin: Double Top Confirmed? Beware of an Imminent Reversal!
📉 After flirting with $110,000, Bitcoin hits strong resistance and drops to $104,020! This decline could confirm the formation of a double top, a sign of a potential bearish reversal.
🔍 Technical Analysis: A Bull Trap?
A double top is a reversal pattern that may signal a sharp correction. The key support at $106,235 has just been broken, paving the way for a worrying bearish scenario.
⚠️ Critical Levels to Watch:
🔴 Major Resistance: $110,000
🟢 Immediate Support: $104,000
🚨 Danger Zone: $102,500
🚀 Possible Scenarios
🔥 Bullish Rebound? If BTC climbs back above $106,000, a move toward $110,000 remains possible.
❄️ Sharp Drop? A break below $102,500 could accelerate the fall toward $100,000 and trigger panic selling.
🎯 Conclusion: The Market at a Turning Point!
Indicators show increased selling pressure, with a declining RSI and a negative MACD. Traders should closely monitor Bitcoin’s reaction to upcoming key levels!
💬 Is the double top confirmed, or is this just a pause before a new rally? Share your thoughts!