#BTC Analysis of Bitcoin dismisses that BTC will register a "double top" after surpassing 107,000 dollars
"There is a lot of noise about a potential double top while BTC struggles to reach its all-time high," says Swissblock in its latest analysis of BTC
The BTC price indicator ignores the "noise" of the double top
Bitcoin shows no "signs of bearish divergence," viewed through the lens of a basket of network indicators.
Commenting on the latest signals from its Bitcoin Fundamental Index (BFI), Swissblock argued that despite being less than 5,000 dollars from all-time highs, the BTC/USD pair will not abandon its momentum to discover new prices.
"There is a lot of noise about a potential double top while BTC struggles to reach its all-time high," he said.
The BFI combines several existing indicators into a single oscillator to provide insight into the strength of the trend at a given price point.
Since August 2024, the BFI has remained rigidly in its mid territory around the 50/100 mark, regardless of price action.