Bitcoin Structure Points To Healthy Correction Before Next Wave Toward $150,000

Bitcoin’s recent price action suggests a cooling phase after its failed attempt to secure a close above the $123,000–$124,000 all-time high ￰0￱ short-term retracement appears likely, the broader market structure remains ￰1￱ correction could serve as a healthy reset before Bitcoin gathers momentum for its next major wave, with $150,000 standing as the next ￰2￱ Reveals Key Gaps In Bitcoin’s Support Levels ZYN, a prominent crypto analyst, recently posted an update on X highlighting a key observation from Bitcoin’s cost basis ￰3￱ analyst noted that there’s limited support between the $121,000 and $120,000 levels, creating a fragile zone that Bitcoin could easily slip through if selling pressure ￰4￱ Reading: Did Bitcoin Top?

Top Trader Warns Of Brutal $98,000 Liquidity Sweep Below that, ZYN pointed out a major area of interest around $117,000, where approximately 190,000 BTC had been previously ￰5￱ accumulation zone reflects a strong base of recent buyers and could serve as a critical level where market participants step in to absorb any downside ￰6￱ Bitcoin does pull back toward $117,000, the analyst believes it could set the stage for renewed accumulation rather than a deeper correction. Historically, retracements into strong support levels like this have provided fuel for the next leg higher as both existing and new investors take advantage of lower entry ￰7￱ up, ZYN emphasized that while Bitcoin lacks meaningful cushioning around $121,000, a solid foundation appears to be forming at $117,000.

BTC Struggles To Hold Above All-Time High Zone In a recent market update, Crypto Candy observed that BTC once again struggled to maintain momentum above its ATH resistance zone between $123,000 and $124,000. The level has proven to be a tough barrier, with price attempts above it quickly met by selling ￰8￱ a result, BTC failed to close and sustain above this critical area, leading to a retracement that aligns with earlier expectations outlined in their ￰9￱ Reading: Bitcoin Momentum Indicator: Why 600,000 Transactions Threshold Matters Most Presently, this short-term correction is viewed as part of a natural and healthy market cycle, not a signal of ￰10￱ analyst noted that if the current momentum persists, Bitcoin could dip toward the $116,000–$118,000 region before finding strong ￰11￱ range is viewed as a potential accumulation zone where buying interest could re-emerge, setting the stage for renewed bullish ￰12￱ the pullback, the broader outlook remains ￰13￱ Candy reaffirmed a psychological long-term target of $150,000 for Bitcoin, suggesting that the current price action is merely a temporary pause before the next leg ￰14￱ image from Pixabay, chart from ￰15￱