Recent price analysis of Bitcoin by analyst Min Tae-yoon indicates potential growth prospects after a price correction.
Current Bitcoin Market Situation
Last weekend, Bitcoin's price fell to $112,000, which some analysts believe could trigger a "position reset" and set the stage for a rally. Tae-yoon suggests that this correction may indeed create new upward opportunities.
The "Power of Three" Model
The "Power of Three" model describes a three-stage market structure: "accumulation – manipulation – distribution." This structure is often used to analyze liquidity movements of institutional investors and helps understand the delayed reactions of individual investors.
Bitcoin Growth Prospects
Tae-yoon emphasizes that the $120,000 level acts as a "powerful price magnet." If the price can hold above $115,300 and $116,800, Bitcoin could breach the $120,000 resistance and rapidly rise to a technical target of $126,000. It was also estimated that $922 million worth of leveraged positions were liquidated during the recent correction, reducing market overheating and paving the way for a new rally.
Min Tae-yoon's analysis highlights the importance of support and resistance levels, as well as the role of position resets in preparing the market for potential growth.
