Quote from: tsaroz on Today at 08:36:44 AM

Quote from: QueenSk on March 16, 2024, 05:55:49 PM

Based on the pattern on the chart, it seems like Bitcoin is going to correct itself but to what extent, no one knows.

We can clearly see that BTC hasn't been able to cross its previous highs after each dip recently which indicates that there is a bearish momentum going on.

So can we expect a major correction or it's going to go up again and reach $80K before halving?

Let's discuss.

Regards
SK

There is always a correction and accumulation before another push. The correction could be slight making current resistance above 62K to the the final one as prices have bounced back from that range for multiple of times now and in worst case scenario, it could go as low as 50K but no further. The price going below 50K would start another bear which is highly unlikely as there is high confidence in the market. People are accumulating at a higher price and a bull reaching 85K+ is on the horizon. There are predictions of bitcoin reaching 140K as well.

Yes indeed, we have seen this in the past as well hence it's better not to panic and make use of the dip which we should consider as accumulation period. This just resembles to every other bull run we have always seen such dips before the pump. I personally feel Bitcoin would cross $100k but I don't go with prediction because that was the case then Bitcoin should have breached $100k in 2018 itself but rather it would be wise to consider the targets based on how market trends.