When does the real correction of Bitcoin start? A question that many traders have after the recent rise of the currency...
Usually in the markets:
1. A correction happens after a rapid rise without rest or price stabilization. Bitcoin has risen rapidly over the past weeks, so a correction is natural.
2. The real correction is often around:
10% to 20% from the last peak.
So if the peak was $122,000, a 10% correction means a drop in price to around $110,000, and 20% means approximately $97,600.
Has the correction actually started?
The drop from 122k to 119k is only ≈ 2.5%, which is still a normal movement within the upward trend.
There is currently no clear break of strong support (like the 115k or 110k level) to confirm the start of a deeper correction.
Signs that a correction may be approaching or starting:
If the price drops below 115,000 with high trading volume.
If reversal candles appear on the daily frames (like a bearish engulfing candle).
If the market experiences negative news or if large investors (whales) start selling in large quantities.
....... . . . . . . . . . . . . . . . . . . . . . . . $BTC
I expect that a deep correction may occur between the end of July and the beginning of August, especially if the price does not return to test 122k.
However, if the price stabilizes between 118k and 122k for a while, it may indicate an attempt to build a price base before a new surge.
