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A potential double top on Bitcoin?- BTC takes out weekend lows
On Friday the rejection of a break below 91k on Bitcoin the day before was covered here in updates. Prior to that the significance of that level was highlighted here a number of times. Well, as mentioned, BTC rejected a break below 91k, but only just. The rebound that followed saw BTC rise to 95,799 after the European close on Friday. The price action over the weekend saw it reach a low at 93,680 on Sunday morning. Earlier today BTC rebounded again and reached a session high at 95,862, but more recently it has fallen back again, dropping below the 94k handle once more. It has in fact just now taken out the weekend lows, falling to 93,240. Looking at the chart on this one, you can see there is a clearly defined risk of a double top being set in place just short of 96k. That is yet to be indelibly confirmed though, but a fall below the lows seen last week (91,207) would certainly do so. Bitcoin is currently trading at 93,550
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