Analyst: Bitcoin may be forming a double top structure, and the upward momentum is weakening

ChainCatcher news, Coindesk analyst Oliver Knight stated that the current trend of Bitcoin is similar to that of 2021, which may form a "double top" structure. Key on-chain indicators include three bearish divergences in the weekly RSI (RSI is a technical indicator that measures overbought and oversold conditions, with bearish divergence indicating a decline in RSI while prices rise), low trading volume during breakouts, and divergence between futures open interest and price. Knight pointed out that despite the price reaching new highs, the overall upward momentum has significantly weakened.