The price of Bitcoin has mainly stopped this weekend and has no major movements in both directions. The market is still moving sideways, with the prices within a narrow range. Although there has been a bit of downward pressure, it has not been enough to activate major changes.
Some experts have wondered If Bitcoin’s current pattern can become a triangle, but there is no clear sign that that is happening. Triangles are rare patterns in the market, and it is too early to say whether this will develop into one.
Bearish update:
For now, the focus remains on a correction phase that started after Bitcoin’s May High. Since then the price has withdrawn and it is expected that it may be lower before he finds strong support. The most important areas to be viewed are approximately $ 99,200 to $ 92,800. There is even a chance that it can fall as low as $ 81,340, which is considered an important level of support. If Bitcoin breaks under that, this can indicate the end of the bull market.
Bullish update:
On the other hand, if Bitcoin applies above this zone, the long -term prospects remains positive. As soon as this correction ends, Bitcoin can focus on a movement to $ 130,000, and if market conditions improve, it can even gather higher, possibly up to $ 190,000.
Looking at shorter timetables, the price is currently above small support levels. During the weekend, Bitcoin is expected to see a small bouncing or move sideways before he is lower again. A break above $ 108,822 can mean that the market will be bullish in the short term, but for now there is no clear sign that that is happening.
In summary, Bitcoin is still in a correction phase without confirmed demolition or breakout. As long as it remains above the most important support levels, the larger upward trend remains intact.