After its recent recovery push, Bitcoin is beginning to show signs of exhaustion, and the chart’s current structure raises questions about a possible double top formation. Although Bitcoin has recovered some ground from its earlier decline and is currently trading in the $71,000-$72,000 range, the way it is acting close to local highs indicates that bullish momentum is not as strong as it first appears.
Premature double top
Two recent peaks in the low-$70,000 area are forming