Analysis: Bitcoin price action forms double top, could drop to $50,000

Odaily News Markus Thielen, founder of 10x Research, said: “Technically, Bitcoin appears to be following a double top structure, while support levels are being tested. This chart formation should be our base case (unless it becomes invalid). This pattern could easily fall to $50,000, or even $45,000.” Thielen added: “The US election and CPI later this year should be bullish, but we could still experience a more severe correction.” (CoinDesk)