Bitcoin Just Rejected $8,900 in a Short-Term Top Structure: Traders Fear Bear Trend Isn’t Over

The bitcoin price rose to as high as $8,916 across major cryptocurrency exchanges like BitMEX and Binance on January 15. Since then, BTC fell by three percent in a typical short-term top formation.
Lower time frames indicate a double top structure, which normally suggests that the asset tried to break above a key resistance level twice in a short time frame and failed.
$8,900 has acted as a heavy resistance level since late October. BTC has breached that level for the first time since mid-Novemb