ChainCatcher news, 10x Research founder Markus Thielen said that from a technical point of view, Bitcoin seems to follow a double top pattern, and the support level is being tested. Unless the pattern fails, this pattern should be our base case. This pattern can easily fall to $50,000 or even $45,000.

It is reported that this is a bearish technical analysis pattern consisting of two peaks and a trough in the middle, which usually appears after a clear upward trend. The second peak represents the exhaustion of the upward trend, and the final breakthrough of the low point between the two peaks confirms the bearish trend shift.