has carved out a double-top price pattern, signaling a potential bearish trend change ahead of key data release that could influence the Fed's interest rate path.
"Technically, bitcoin appears to follow a double top formation, whereas the support level is being tested. This chart formation should be our base case unless it becomes invalidated. This formation could easily see a drop to $50,000—if not $45,000," Markus Thielen, founder of 10x Research, said. " Strong economic data has forced yields higher and precious metals lower on Friday. This continues to stand in the way of digital hard assets like crypto," Greg Magadini, director of derivatives at Amberdata, said in the weekly newsletter shared with CoinDesk.
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