Bitcoin (BTC) is currently at a crucial price level. Observing the weekly chart, BTC appears to be forming a double top structure, and the establishment of this technical pattern requires the price to effectively fall below the neckline. It is worth noting that the current neckline position almost coincides with the daily chart 200-day MA, at around $107,500.

If BTC fails to effectively hold above the 200-day MA by the end of this week, according to the double top theory, the price of Bitcoin may further fall to around $94,000, which would directly break the support of the 50-week MA. Therefore, to maintain the current bull market trend, bullish investors are closely monitoring whether Bitcoin can hold the key support level of $107,500 over the weekend.

This technical analysis reveals the potential adjustment risks that the current cryptocurrency market may face. Investors should remain vigilant and closely monitor price trends and changes in key technical indicators. At the same time, it is important to recognize the uncertainty of the market and to implement risk management.

Regardless of the final outcome, the performance within this price range will provide important clues for Bitcoin's short-term trend, and may influence the sentiment of the entire cryptocurrency market. Investors should not only pay attention to the technical aspects, but also consider macroeconomic factors, regulatory environment, and other information to make more rational investment decisions.