Bitcoin (BTC/USDT) – Breakdown from Double Top Confirms Bearish Trend Continuation
The 4-hour chart of BTC/USDT (Binance Perpetual Contracts) presents a textbook double top formation followed by a confirmed breakdown below structural support levels. The bearish trend has already met its first target, and technicals suggest the move could extend lower toward the key demand zone around $96,000.
🔍 Key Technical Highlights:
Double Top Pattern: Clear double top structure formed between $109,000–$110,000, followed by a strong rejection.
Support Break: Price broke down below key support at ~$105,000, triggering a sell-off and validating the bearish reversal.
Bearish Retest: After the breakdown, price retested the broken trendline (highlighted with a red zone) and failed to reclaim the range.
First Target Hit: Price achieved the first projected support zone at around $101,000.
Next Target: Based on measured move projection and previous structure, the next downside target lies near the $96,000 mark.
📉 Outlook:
The structure remains bearish as long as BTC trades below the broken support-turned-resistance zone (~$105,000). Momentum favors continued downside toward the next key zone unless a significant bullish reversal signal emerges.
The 4-hour chart of BTC/USDT (Binance Perpetual Contracts) presents a textbook double top formation followed by a confirmed breakdown below structural support levels. The bearish trend has already met its first target, and technicals suggest the move could extend lower toward the key demand zone around $96,000.
🔍 Key Technical Highlights:
Double Top Pattern: Clear double top structure formed between $109,000–$110,000, followed by a strong rejection.
Support Break: Price broke down below key support at ~$105,000, triggering a sell-off and validating the bearish reversal.
Bearish Retest: After the breakdown, price retested the broken trendline (highlighted with a red zone) and failed to reclaim the range.
First Target Hit: Price achieved the first projected support zone at around $101,000.
Next Target: Based on measured move projection and previous structure, the next downside target lies near the $96,000 mark.
📉 Outlook:
The structure remains bearish as long as BTC trades below the broken support-turned-resistance zone (~$105,000). Momentum favors continued downside toward the next key zone unless a significant bullish reversal signal emerges.
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Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.