The analyst also notes that a more likely baseline scenario is a modest correction towards support levels, followed by a resumption of the broader upward trend. Such a pullback would allow the market to consolidate and establish a more solid base, ultimately preserving the bullish structure while shaking out weak hands.
"Bitcoin seems a bit overextended at the moment, and you can see it struggling to break through resistance at the highs. A pullback towards the range of $112,000–$105,000 would actually be healthy: that's where smart money is likely to come into play. The fundamentals are still in favor of Bitcoin: supply is limited, ETF money continues to flow, and regulatory progress is finally advancing," he concluded.
Clarification: The information and/or opinions expressed in this article do not necessarily represent the views or stance. The information presented here should not be taken as financial advice or investment recommendation. Every investment and trading move involves risks, and it is each person's responsibility to do their due diligence before making an investment decision.@lagrandev
