Bitcoin’s Pullback A Healthy One? Chart Signals Move To New All-Time High

Bitcoin appears to be quietly gathering strength beneath the ￰0￱ a healthy pullback that shook out weak hands, the market is showing signs of renewed ￰1￱ technical signals suggest this correction may have been a setup for the next major rally, potentially paving the way for a new all-time ￰2￱ Correction Within A Dominant Uptrend EtherNasyonaL, in a recent post, highlighted that Bitcoin continues to maintain its upward trajectory despite recent market ￰3￱ analyst described the latest movement as a healthy correction within the broader bullish trend, emphasizing that such retracements are natural in a sustained ￰4￱ Reading: Bitcoin Pauses Below Key Levels – Can It Regain Momentum For A Rally?

Following a rejection from the supply zone, Bitcoin found strong support at a key demand area, where buyers quickly stepped in to defend the ￰5￱ rebound underscores the underlying strength of market participants and reaffirms that bullish sentiment remains ￰6￱ noted that short-term volatility, for traders not involved in leveraged positions, often appears as noise in the bigger picture. BTC’s macro trend is still positive, and the ongoing correction may simply serve as fuel for the next leg higher. Overall, Bitcoin’s structure remains solid, with its trend intact and momentum still ￰7￱ Spring Formation Points To Possible Breakout Setup Crypto analyst Christopher Inks, in an X post, noted that Bitcoin’s latest price action has refined its trading range, offering a clearer market ￰8￱ suggested that the asset may have just formed a heavy spring or bullish Swing Failure Pattern (SFP), a setup that often precedes strong upward ￰9￱ Reading: Here’s Why The Bitcoin Price Crashed After Hitting $125,700 All-Time High If this bullish setup holds, the analyst expects a validation phase, where Bitcoin could form a higher low on lower volume, a classic sign of successful ￰10￱ a move would confirm the spring’s strength and potentially trigger momentum toward a new all-time high (ATH).

This phase is critical in determining whether the next major rally is about to ￰11￱ also pointed to Open Interest (OI) as a key confirmation tool. A decline in open interest as price consolidates would suggest short covering and validate the bullish ￰12￱ the other hand, rising OI on lower closes would imply continued distribution, signaling that the market may need more time before reversing ￰13￱ an Elliott Wave Theory (EWT) perspective, Inks identified a three-wave structure from the swing low while printing a new swing high that fits a flat correction ￰14￱ flat corrections often occur before the continuation of a larger uptrend, this analysis aligns with the Wyckoff interpretation, suggesting Bitcoin’s structure remains strong and poised for another upward ￰15￱ image from Pixabay, chart from ￰16￱