Bitcoin Price Analysis: Double Top Rejection Signals Possible Pullback

Bitcoin is currently trading around the $116,000 level after facing rejection near the $118,000 resistance zone (highlighted with yellow arrows on the chart). This zone acted as strong resistance in the past and once again rejected the recent bullish attempt. On the downside, BTC had broken below a descending trendline earlier but bounced back, showing buyers are still active. However, the market is now struggling to break higher, forming what looks like a double top pattern — a bearish signal suggesting potential weakness.