CoinDesk reports a potential "Double Top" pattern forming on Bitcoin's daily chart around $122,000. This technical pattern, characterized by two similar price peaks after an uptrend, suggests a possible bearish reversal. The analysis points to BTC encountering resistance at $122,056 on July 14th and August 11th, with a temporary dip to $111,982 in between. This $111,982 level acts as the "neckline." A break below this neckline would confirm the Double Top and signal a likely downtrend. A similar pattern previously emerged around $100,000, preceding a drop to $75,000. Concerns are heightened by anticipation surrounding the US Consumer Price Index (CPI) announcement. Weaker buying pressure coupled with a higher-than-expected CPI could trigger significant selling pressure, potentially validating the bearish Double Top scenario. Traders should exercise caution and monitor the $111,982 neckline closely. ```

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