- Bitcoin’s daily chart shows two peaks near $125K, signaling a potential double top structure as bullish momentum begins to fade.
- The neckline support at $112K is the critical level, with a close below confirming bearish reversal signs toward lower targets.
- A confirmed double top could project a move to $99K, with liquidity sweeps possibly dragging prices slightly lower toward $98K.
Bitcoin is sketching out a potential double top formation on the daily chart, a classic bearish reversal pattern closely watched by traders.
Double Top Structure Near Resistance Levels
Market analyst Titan of Crypto noted on X that Bitcoin carved out two peaks in the $122K–$125K range. This zone now reflects hesitation as buying momentum shows early signs of fading. The repetition of highs signals possible exhaustion after a strong rally.
Source: Titan of Crypto
The double top is a chart structure often associated with market reversals. In this case, it forms as BTC struggles to clear the $125K area. The setup suggests that traders remain cautious, with many monitoring how Bitcoin responds around support levels.
Neckline as the Key Level to Watch
The neckline support sits around $112K, marked by a horizontal red line on the chart. A decisive daily close beneath this line would validate the double top pattern. Until that happens, the formation remains unconfirmed and only a possible scenario.
According to Titan of Crypto, losing the neckline would set off the measured move from the structure. This projection places the target at nearly $99K. Liquidity sweeps could also drag the price slightly lower, potentially touching $98K, an area where stop orders may cluster.
Pathways for Bitcoin’s Next Move
If Bitcoin breaks and closes below $112K, sellers could accelerate a retracement into sub-$100K territory. The pressure would likely increase once the neckline gives way, opening the path to the projected target.
Alternatively, buyers may defend the neckline support, which could prevent the bearish setup from playing out. A successful defense at this level could transform the pattern into a consolidation base. In such a case, Bitcoin may attempt another push toward higher levels.
At present, Bitcoin trades near a make-or-break zone. The $112K neckline remains the key battlefield between bulls and bears in the coming sessions.
