Analysis: Bitcoin may repeat the 2021 "double top" trend

Odaily News Multiple recent on-chain indicators show that Bitcoin (BTC) may be forming a "double top" pattern similar to that of 2021. The current price is close to the high of about $109,000 set in January, but the weekly RSI has shown a bearish divergence, and trading volume has continued to decline on crypto and institutional platforms. In 2021, Bitcoin reached a high of about $65,000 in April and then quickly fell back, then hit a new high again in November, and eventually entered a year-long bear market. Analysts pointed out that although the current market environment is different, the technical indicators are similar to those of that year, and investors should pay attention to potential risks. (CoinDesk)