Bitcoin is clearly on an upward trend, why am I confident there will be a wave of correction???

Before the correction, BTC is very likely to maintain a strong stance by consolidating at a high level.

However, I personally feel it is unlikely to exceed 120,000. Because based on past experience, once important psychological barriers are broken, they don't usually go too far. For example, after the last first wave broke 40,000 in January 2021, it only went to around 41,950.

In the first half of 2024, after breaking 69,000, it only went to around 73,000.

Look at the daily adjustments of BTC at high levels over the past few days. Just by looking at this momentum, you can tell there is no panic buying at all, just directly buying up against the upper channel.

Regardless of any technical indicators, whether looking at daily or weekly charts, BTC is in an absolutely overbought state, but overbought conditions will only lead to more overbought conditions until a panic sell-off occurs, resulting in a sharp correction.

Past triggers for BTC corrections include:

1. U.S. stocks falling

2. Negative news (such as regulatory crackdowns and U.S. tariffs)

3. Simply having risen too much and then falling

This time, I don't see U.S. stocks crashing, and Trump's tariffs have already caused a crash once. So the reason is simply that it has risen too much and is about to crash.

I personally believe there is no need to fear missing out; when altcoins have a sharp correction of 30-40%, that will be the real opportunity to buy the dip.

Remember that in January 2021, BTC's correction marked the beginning of the altcoin season.