“Bitcoin’s price recovery meets resistance from a bearish double top pattern; what does this mean for XRP, SOL, and DOGE?”​

Bitcoin Faces Resistance at $87K: Is a Market Correction Imminent?

Bitcoin’s (BTC) recent price recovery appears to be losing momentum, as a bearish double top pattern emerges on the charts, signaling a possible reversal.

Last week, BTC climbed to a high of $87,400 before dipping to around $84,000. It then made another push above $87,000 but failed to sustain the gains, forming two peaks at a similar level with a decline in between. This price action suggests the formation of a double top—a classic bearish reversal pattern that often signals an impending downtrend.

For this pattern to be confirmed, Bitcoin would need to break below the key “neckline” support at approximately $86,000. If this level fails, BTC could drop toward $75,000 or lower in the short term. Despite this, the long-term price trend still indicates Bitcoin remains within an overall bullish range.

Traders initially responded positively to the U.S. Federal Reserve’s dovish policy signals and reduced concerns over trade tariffs, helping fuel last week’s price gains. However, Bitcoin’s recent moves have shown little correlation with the broader altcoin market, suggesting weak overall market participation and increasing the possibility of a “fakeout” rally.

If Bitcoin moves lower, altcoins are likely to follow suit. Dogecoin (DOGE), which tends to experience exaggerated price swings, may see steeper losses. XRP, which remains highly influenced by both market sentiment and regulatory factors, could also struggle to sustain momentum.

Meanwhile, Solana (SOL) faces additional downside risks due to technical indicators. The token is approaching a potential “death cross” formation—where the 50-day moving average crosses below the 200-day moving average—which has historically led to extended price declines.

Bitcoin now stands at a pivotal moment. A confirmed break below $84,000 on the weekly chart could validate the double top and drive further downside pressure, while a move above $87,500 could invalidate the pattern and reignite bullish momentum.

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