"BTC/USD Double Top Breakdown: Targeting Key Support at 92,000"
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This chart for BTC/USD highlights the following key points:
1. **Double Top Formation**: - A clear double top pattern is visible around the 108,000 resistance zone. - This is a bearish reversal signal, indicating a potential move downward.
2. **Break of Trendline Support**: - The price has broken below the ascending trendline, further confirming bearish momentum.
3. **Price Targets**: - The next major support zone appears to be around 92,000–88,000, which aligns with the highlighted horizontal demand area.
4. **Bearish Volume Profile**: - Significant selling volume is noted after the rejection from the resistance zone, reinforcing the downside bias.
Summary: BTC/USD is showing strong bearish signals after failing at the 108,000 resistance and forming a double top. The break of the trendline suggests a continuation to the downside, with a target around 92,000–88,000. Traders should watch for retests of the broken support or confirmation of further downside momentum.