Bitcoin’s recent price action suggests a healthy pullback may be underway, paving the way for renewed upside momentum. While it is short-lived correction towards key support levels seems likely, the broader technical outlook still points to strength and potential continuation towards higher targets once consolidation is completed.
Bitcoin is entering the expected pullback phase
BeLaunch, in a recent daily update from BTC shared on X noted that Bitcoin’s price movement continues to unfold exactly as expected. The market appears to be transitioning into the expected pullback phase, signaling a temporary cooldown after the recent rally. This correction phase could be a natural part of the ongoing bullish structure rather than a sign of weakness.
According to the analyst, Bitcoin is likely to return to the $108,000-$110,000 range, an area identified as a key near-term support zone. This range could serve as a healthy reset point for the market, allowing the momentum indicators to cool down before the next potential upside phase begins.
Once this corrective phase is complete, BeLaunch expects Bitcoin to stage a recovery that could take it towards the target region of $125,000. Such a move would represent the continuation of the macro upward trend that has formed in recent weeks. However, the confirmation of this scenario would depend on the strength of the recovery after the expected dip.
The analyst concluded the update with a word of caution, reminding traders that this retracement phase could precede a significant breakout. He described this as the ‘calm before the storm’. This suggests that Bitcoin’s next decisive move could be substantial, making patience and strategic positioning key in the coming days.
Market Cooldown Underway: BTC Slows After Recent Gains
In an X afterCrypto VIP Signal noted that the price of Bitcoin has started to gradually decline after recent gains. The BTC market appears to be entering a short-term cool-down phase, with selling pressure beginning to test at lower levels.
Related reading: Bitcoin is trading sideways – consolidation above support could fuel the next upward move
According to the analyst, Bitcoin could revisit its key support area before making its next decisive move. Price action is currently showing the formation of a clear trading range, indicating that the market is consolidating and gathering momentum for its next breakout. Bitcoin behavior around these crucial levels is vital as a rebound from support could determine the next upward move.
In the meantime, the update highlighted that some sideways movement is likely in the coming days. The existing support and resistance levels remain unchanged and serve as critical zones to gauge market sentiment. Once BTC breaks out of this consolidation range, it could set the tone for a directional move.