Bitcoin Likely to Reverse Upwards After Recent Pullback
- Bitcoin experienced a -15% pullback in week seven of its price discovery phase.
- This pattern aligns with historical cycles where Bitcoin corrected after several weeks of gains.
- In previous cycles, corrections occurred in week seven or eight, with pullbacks ranging from -16% to -34%.
- The current Bitcoin price is approximately $93,803, reflecting a 1% decrease over the past 24 hours.
- The expected trading range for Bitcoin is between $91,000 and $101,000.
Bitcoin’s recent -15% pullback follows a historical pattern observed in previous cycles. The cryptocurrency currently trades around $93,803 and is anticipated to remain within the $91,000 to $101,000 range.
