$BTC
Bitcoin Analysis
This chart highlights a recurring pattern of local peaks followed by sharp pullbacks after testing horizontal resistance.
Each rejection area (red squares) led to:
~9-10% corrections in the early stages
~30-35% corrections from major peaks
Currently, the price of Bitcoin shows a similar rejection near the $111,000 area. If events repeat, we may see a deeper correction of -10% unless the bulls quickly regain resistance.