Analysis: Profit-taking May Interrupt BTC Bull Market, Market Could Face Deep Correction
According to Odaily Planet Daily, the on-chain analysis platform CryptoQuant pointed out in its latest research report that profit-taking may lead to an interruption in the recent Bitcoin bull market. Some demand indicators for Bitcoin may be reaching a short-term peak, which means the current rally will pause, and the pace of whale accumulation is also slowing down, with prices possibly falling below $100,000. Trader Mags analyzed on the X platform, writing: "On the daily chart, BTC has fallen below the previous all-time high and is facing rejection at the same level. If BTC closes below the horizontal support and resistance levels on the weekly chart, a deeper pullback may be seen."
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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