- Bitcoin enters another major correction phase.
- Analysts mark this as a major retest before higher highs arrive for BTC.
- This could be the final retest that draws a megaphone pattern for the next cycle top price.
Many seasoned analysts and members of the crypto community believe the time has come for another major correction phase for the crypto market. So far, many reputed analysts have taken profits and have decided to buy back Bitcoin (BTC) and other capable and promising cryptos after the correction phase comes to an end.
Bitcoin Enters Another Major Correction Phase
As we can see from the post above, this analyst highlights how the crypto market is entering another major correction. She says that having 2 major corrections is one cycle may seem unusual, but this does not make BTC bearish at the moment. She also says that BTC should likely be considered bearish if it falls below the $68,000 price range.
Despite this downward BTC price fall, the analyst says that the pioneer crypto asset will still likely climb up to make higher highs after the correction and confirms that green days will certainly arrive again. Similarly, another reputed analyst adds to the conversation saying that this retest will be one that plays out before higher highs arrive.
Final BTC Retest Before Higher Highs?
As we can see from the post above, this analyst shares a long-term view of the BTC price chart and highlights megaphone patterns. So far, every cycle has seen a major pull back allowing a healthy retest to play out before the next ultimate leg-up which usually leads to the arrival of the cycle top price.
