BTC Technical analysis
Bitcoin's recent price action is showing signs of potential trouble ahead. We can see a classic double top pattern forming, with both peaks around the $61,500 level. This is typically a bearish signal, indicating that the momentum could be slowing down. If the price fails to break above this level and instead drops, we could see a move toward the target around $48,000. The RSI is hovering near the overbought zone, which adds to the possibility of a reversal. Meanwhile, the MACD is not showing strong bullish momentum, further suggesting caution. Keep an eye on that support level; if it breaks, a significant drop could be on the cards.
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