Crypto analysts highlighted that price for Bitcoin (BTC)!

According to a crypto analyst, BitcoinThe technical structure of (BTC) has turned negative and this development may create a pullback towards 50 thousand dollars.

Markus Thielen, founder of 10x Research, wrote in an analyst note on June 24. Bitcoin He stated that technically is in a double peak model. A double top formation forms when the price reaches two similar tops with a slight decline in the middle, maintaining support above a common line known as the “neckline.”

This pattern often resolves when the price falls below the neckline, potentially falling equally between the tops and the middle of the neckline.

Confusing comments came for BTC

Thielen evaluated the BTC chart as follows:

“As long as the technical structure is not invalidated, this chart formation can give us a signal. “This formation could create a drop to $50,000, if not to $45,000.”

The leading crypto trader has been making scathing comments about the BTC price since the halving on April 20.

Another crypto analyst, Jelle, said that Bitcoin’s price movement is still continuing “similarly” after the 2016 halving cycle and is “fluctuating around the highs of the previous cycle.”

Crypto influencer Rekt Capital believes there is significant potential for further upside movement in the short term. We are about 40 percent into the bull market phase, he said in a June 24 post.

Naturally, crypto investors are confused by the different opinions coming from experts. Investors are following the future price movements with curiosity.