Recently, the Bitcoin market has once again seen the notion of a 'large double top', sparking concern and attention from many investors. This perspective suggests that Bitcoin may form a so-called 'large double top' pattern on the weekly chart, indicating that it could be entering a bear market phase soon. However, we need to analyze the credibility of this viewpoint more rationally.

First of all, the term 'double top' has been accompanying discussions about Bitcoin since 2021 and has lasted for five years. Interestingly, many investors who entered the cryptocurrency space after 2022 seem particularly focused on this concept. In March of this year, when Bitcoin fell from $100,000 to $75,000, the market once again heard voices of double top theory and the impending bear market. But now, in June, this notion has evolved into 'big double top'.

For this kind of market prediction, we need to maintain a cautious attitude. Defining a 'small double top' and a 'large double top' at the same weekly level is quite rare from a technical analysis perspective. More importantly, we should follow more market factors rather than solely relying on chart patterns.

Based on historical data, the current highest price of Bitcoin is around $110,000, while the peak of the previous bull market was $69,000, and the one before that was $19,798. If we follow historical patterns, the peak of this bull market could be at least around $140,000 to $150,000. Therefore, to conclude that the market has already peaked or is about to enter a Bear Market seems premature.

For investors, it is important to understand their own investment capacity, technical level, and psychological tolerance. Blindly following others' trading strategies or overly worrying about market trends can lead to unnecessary losses. In contrast, holding quality value coins and maintaining a long-term investment mindset is often a more robust strategy.

Finally, I want to emphasize that the development of the cryptocurrency market is still in its early stages, full of uncertainty and opportunities. Investors should continue to learn and enhance their analytical skills, rather than being easily influenced by short-term market fluctuations or unverified predictions. Let time validate everything, and maintaining rationality and patience is the key to success in this highly volatile market.