Bitcoin is currently showing concerning technical signals on the chart. A bearish divergence has formed alongside a double top pattern, suggesting potential downside pressure ahead. Based on this setup at the Potential Continuation Zone of the Bearish Cypher, we're looking at several key support levels to monitor. If selling pressure intensifies, traders should watch the 101,800 zone closely, followed by 98,300 and 91,500 as deeper targets. The 112,238 level represents an intermediate resistance that could act as a pivot point during the pullback.
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ForkTrooper
· 11h ago
Bitcoin's recent move does look a bit fierce, with a double top + bearish divergence combo... However, I think the key level at 101800 must really hold, or else it could directly drop to just over 90,000, which would be awkward.
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Ser_This_Is_A_Casino
· 11h ago
Starting to interpret charts again, the double top + divergence combo is indeed quite powerful, but to be honest, this kind of signal is shouted out every week.
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HappyToBeDumped
· 11h ago
Double top is back again. Is this really the case or is the wolf coming?
Bitcoin is currently showing concerning technical signals on the chart. A bearish divergence has formed alongside a double top pattern, suggesting potential downside pressure ahead. Based on this setup at the Potential Continuation Zone of the Bearish Cypher, we're looking at several key support levels to monitor. If selling pressure intensifies, traders should watch the 101,800 zone closely, followed by 98,300 and 91,500 as deeper targets. The 112,238 level represents an intermediate resistance that could act as a pivot point during the pullback.