🚨 Bitcoin Double Top Breakdown – Bearish Targets Set at $113K and $108K 🎯
📰 Market Snapshot:
Bitcoin (BTC/USD) has recently shown signs of a classic double top pattern, often a strong bearish reversal signal. With the neckline now broken, technical analysts are eyeing potential downward targets at $113,000 and $108,000.
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📉 What Is a Double Top?
A double top forms when an asset hits a price peak twice but fails to break above, signaling a reversal in an uptrend. Once the neckline support is broken, the asset often drops significantly, which is what we’re now seeing with BTC.
🖼️ Image Idea:
Visual chart showing Bitcoin's double top pattern, with two peaks and a neckline break, arrows pointing to $113k and $108k levels.
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🔍 Current Market Analysis:
Resistance Zone: $123,000 - $125,000
Support Broken: $118,000 neckline#CPIWatch
Bearish Momentum Increasing: RSI dipping below 50, MACD showing negative divergence
Bitcoin’s price action suggests that bulls are losing control, and a short-term correction could deepen if price closes below $113k.
