Bitcoin Price Recovery Enters Bearish Double Top Pattern. What's Next for XRP, SOL, DOGE?

The double top formation typically requires confirmation through a decisive break below the neckline, the support level between the two tops, which is approximately $80,000–$84,000 based on recent price action.

Posted by Shaurya Malwa | Edited by: Omkar Godbole Updated: March 26, 2025 6:34 AM UTC Published: March 26, 2025 6:31 AM UTC

Key points:

• The recovery in Bitcoin (BTC) price has created a bearish double-top pattern at $87,000, increasing the risk of a repeat decline.
• The pattern would be confirmed by a significant break below the support level between the two peaks, known as the neckline, which could trigger a fall to $75,000 or lower in the short term.
• Bitcoin's current price action may not be supported broadly by the market, increasing the likelihood of a “false” rally: a weekly close (Sunday UTC) below $84,000 would confirm the bearish scenario, while a rally above $87,500 could disprove it.

Bitcoin's (BTC) recovery appears to have run its course as a bearish double top reversal formation has emerged on the short-term charts.

BTC peaked near $87,400 last week, and prices retreated to around $84,000 on Friday and climbed above $87,000 before stalling again. This series of two pronounced peaks at similar levels and separated by a low point indicates a classic double top. This bearish formation often signals the end of an uptrend.

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The double top formation in most cases requires confirmation through a significant break below the neckline, the support level between the two tops, which is located around $86,000.

If this comes true, BTC could fall to $75,000 or lower in the short term. However, long-term charts continue to indicate that the asset remains in an upward range.

Traders responded positively to the US Federal Reserve's cautious approach to inflation and easing concerns over upcoming US tariffs, which helped fuel gains last week.

However, the lack of correlation between altcoins and recent BTC movements suggests that the current price dynamics may not be widely marketed.

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