According to ChainCatcher, Coindesk analyst Oliver Knight suggests that Bitcoin's current trend is similar to 2021 and may form a "Double Top" structure. Key on-chain indicators include weekly RSI (RSI is a technical indicator measuring overbought and oversold conditions, with bearish divergence indicating RSI declining while price rises). Three bearish divergences, low trading volume during breakouts, and futures positions diverging from price. Knight points out that despite price reaching new highs, the overall upward momentum has significantly weakened.
Analyst: Bitcoin may have a Double Top structure, and the upward momentum is weakening
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