Bitcoin faces a correction wave after reaching $100,000, questioning the further development of the bullish trend.
An unfavorable graphic signal
The tipping point for bitcoin occurred at the 87,470 dollar zone. Trader GDXTrader noted that this resistance is the upper boundary of a descending channel. This reversal was accompanied by the formation of a dark cloud cover pattern, often forewarning a bearish market reversal.
Cautious forecasts from analysts
Despite stabilization around $67,000, analysts maintain a cautious stance. Trader Nebraskan Gooner predicted a potential decline to $65,000, pointing to decreasing trading volumes and reduced positions on futures platforms as factors indicating weakening bullish momentum.
Long-term prospects for cryptocurrency investments
Bitcoin's correction phase may undermine company ambitions and retail investor confidence, especially for those who entered the market after surpassing $100,000. Some analysts believe that the current consolidation could create a potentially more sustainable foundation for future market cycles.
Bitcoin remains in a state of uncertainty, and its future path will depend on market dynamics and investor response.
