Bitcoin has reached a significant milestone, closing the week above $100,000 for the first time. This historical achievement, however, brings caution among market observers due to potential upcoming corrections.
Market analysts draw parallels with Bitcoin's past behavior, where breaking major milestones was often followed by corrections of varying intensities. Following a rapid rise to $100,000, Bitcoin saw a brief 13% drop, hinting at its volatile nature.
Expert analysis suggests a prolonged period of volatility as Bitcoin may face resistance around the $98,000 level, which traders will keenly observe in the following days.
Analysts like Rekt Capital warn of Bitcoin entering its parabolic phase post-halving, which historical data suggests typically features a price pullback between Weeks 6 and 8. The recent movements hint at a possible 25-40% correction.
Investors are advised to brace for potential downturns, as confirmed support levels, especially at $98,000, will be crucial to avoid a deeper correction. Nevertheless, post-correction, a bullish trend is expected, possibly leading Bitcoin to new all-time highs.
This cautious optimism amidst Bitcoin's price action inherently incorporates a significant weight of uncertainty and dynamic market factors.
