Bitcoin (BTC) could fall to $ 75,000 if it triggers a so -called ‘double top’ bearish turning pattern.

A double top includes two consecutive tops at about the same price, with a trend line drawn through the low point between these tops. The lack of breaking over the previous top, followed by a subsequent fall, suggests that the act is losing momentum.

So any degradation of the horizontal trend line support, the double top cut, is said to confirm a bullish-to-bearish trend change.

BTC has been withdrawn to $ 100,000 at the time of writing, after failing to maintain a foothold over the December height last week. In other words, BTC appears to have formed a double top with neckline located around $ 91,300.

An UTC closure below the neckline level would confirm the bearish-fitting pattern, which would potentially trigger a fall to $ 75,000. This target is calculated by means of the measured method of motion that draws the distance between twin tops and neckline from the neckline level.