Bitcoin Double Top Pattern Signals $99K Target
Bitcoin forms a potential double top pattern with a possible target around $99K if confirmed.
- Bitcoin shows signs of a double top on the daily chart
- Pattern suggests a target of around $99,000
- Liquidity grab may occur near $98,000
Bitcoin is currently showing signs of a potential double top formation on the daily chart — a classic bearish pattern that often hints at a reversal in trend. While the pattern hasn’t confirmed yet, traders and analysts are keeping a close eye on this technical setup. If Bitcoin fails to break above its recent highs and retraces, the formation could complete and signal a downward move before the next leg up.
A double top pattern typically forms when the price hits a high, pulls back, and then retests the same high before reversing. The key here is the neckline — if BTC breaks below it, the pattern confirms.
What the Pattern Could Mean for BTC Price
If this potential double top plays out, the technical target lies near $99,000. However, there is also speculation about a short-term liquidity grab around $98,000. This means Bitcoin could dip below that level temporarily before continuing its next trend, potentially flushing out leveraged positions and hunting stop-losses.
That said, it’s important to note that the pattern is still in formation. For it to confirm, Bitcoin would need to break down from the neckline level with volume support. Until then, it remains just a scenario, not a guaranteed outcome.
Traders Remain Cautious but Optimistic
Crypto traders are advised to stay alert but not overly bearish. Many believe that this could be a healthy correction or shakeout phase in a longer-term bullish trend. Monitoring price action and volume around key support levels will be crucial in the coming days.
Bitcoin’s next moves could be decisive, especially as we approach the $98K–$99K zone — a region that might either act as a launchpad or trigger deeper corrections.
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