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Bitcoin’s recent price movements indicate a robust pullback may be in progress, paving the way for revitalized upward momentum. Although a short-term adjustment towards crucial support levels seems probable, the overarching technical perspective still suggests strength and a possible continuation towards elevated targets once consolidation wraps up.
Bitcoin Enters The Anticipated Pullback Phase
BeLaunch, in a recent BTC daily update disclosed on X, remarked that Bitcoin’s price trajectory continues to unfold precisely as expected. The market seems to have shifted into the anticipated pullback phase, indicating a brief cooldown following its recent surge. This correction phase could be an organic component of the persistent bullish arrangement rather than a signal of weakness.
As per the analyst, Bitcoin is projected to pull back towards the $108,000–$110,000 range, a zone recognized as a significant short-term support area. This range might act as a beneficial reset point for the market, permitting momentum indicators to stabilize before the next potential rise commences.
Upon the conclusion of this corrective phase, BeLaunch anticipates Bitcoin to initiate a rebound that could guide it toward the $125,000 target area. Such a movement would symbolize the continuation of the macro upward trend that has been evolving over the past several weeks. Nonetheless, validation of this scenario would rely on the strength of the recovery following the expected dip.
The analyst concluded the update with a note of caution, advising traders that this retracement phase might precede a considerable breakout, characterizing it as the “calm before the storm.” This implies that Bitcoin’s next significant move could be substantial, necessitating patience and strategic positioning in the forthcoming days.
Market Cooldown In Progress: BTC Slows After Recent Advances
In an X update, Crypto VIP Signal observed that Bitcoin’s price has begun to gradually ease after recent gains. BTC’s market seems to be entering a brief cooling phase, with selling pressure starting to probe lower levels.
Related Reading: Bitcoin Trades Sideways — Consolidation Above Support Could Fuel Next Upside
According to the analyst, Bitcoin could reevaluate its key support region before executing its next decisive action. Price activity currently indicates the development of a distinct trading range, suggesting that the market is consolidating and building momentum for its next breakout. Bitcoin’s behavior around these essential levels is crucial, as a rebound from support could determine the next upward movement.
In the meantime, the update highlighted that some sideways fluctuations are probable over the next few days. The existing support and resistance levels remain consistent, serving as critical areas to assess market sentiment. Once BTC breaks free from this consolidation range, it could establish the tone for a directional movement.
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