Recently, the rise of Bitcoin ( BTC ) has begun to slow down, and the market has shown some technical signals worth following. Analysis indicates that the current price movement may be forming a double top pattern, which is a potential bearish signal.

Currently, the BTC price is fluctuating around the 120,000 range. However, investors need to closely follow the key support level of 111,900. If the price clearly falls below this level, it will confirm the establishment of a double top pattern, which may trigger a wave of decline and could even lead to the price retreating to around 100,000.

Although there is still uncertainty in the market in the short term, long-term investors need to remain calm and follow the broader market fundamentals and macroeconomic factors. At the same time, risk management is particularly important in the current market environment, and it is recommended that investors set appropriate stop-loss levels to cope with potential price fluctuations.

Overall, although BTC has performed strongly recently, market participants should remain vigilant and closely follow changes in technical indicators and key price levels in order to adjust their investment strategies in a timely manner.