After reaching an all-time high (ATH) of $68,997 on November 8, 2021, Bitcoin began a bearish correction that lasted a year, bottoming out at $15,479 on November 21, 2022. Following this, the bulls took over and pushed Bitcoin to a new ATH of $73,805. At this point, another correction is likely to occur in order to propel Bitcoin towards the projected six-figure price mark. I anticipate the price retracing back to $38,597 before rallying northwards of $100,000.
From a technical perspective:
The buy-side liquidity created by the previous ATH (traders who entered late during the last bull run have exited their positions) has been swept. This has led to an imbalance in price, causing it to seek sell-side liquidity, which is predominantly around $50,428 or even $38,504.
From a technical perspective:
The buy-side liquidity created by the previous ATH (traders who entered late during the last bull run have exited their positions) has been swept. This has led to an imbalance in price, causing it to seek sell-side liquidity, which is predominantly around $50,428 or even $38,504.