BTC has fallen hard enough, and has tested the support below 60K again. If it really breaks through 60K, it will be troublesome, and a double top pattern will be formed on the weekly chart. Technically, it will have to go down to a higher level;

However, even if it does not break through 60K, this kind of fall and rebound strength are worrying. First, it fell below the 120-day bull-bear line of 63,000, then it fell below the reverse arc falling target of 61,500, and thirdly, it fell below 60K. It is also rare to fall through several key supports at once, which reminds me of the saying that "support is meant to be broken."

In fact, we should not overestimate our tolerance, and we must set a stop loss when we should. If Bitcoin cannot recover 61,500 and 63,000 this week, then it is only a matter of time before it breaks through 60K, and a double top will be formed on the weekly chart. Once a double top is formed, it means that Bitcoin will test 52K, 48K, and 40K.

However, this situation has not happened yet. I just want to remind you not to overestimate your risk tolerance. You must set a stop loss and pay close attention to the effectiveness of 60K support this week and when 63K will be recovered.