Bitcoin Eyes Potential Correction Before Q4 Rally, Analysts Say
Bitcoin has seen six consecutive weeks of price discovery uptrend. However, analysts like Rekt Capital suggest a correction may be imminent, following historical patterns post-halving.
The second uptrend in a cycle typically ends between weeks 5-7. As Bitcoin enters its seventh week, a pullback could occur, testing market resilience. Previous cycles show corrections starting between weeks 6-8, with one instance seeing a 30% drop.
Despite potential short-term weakness, the outlook for Q4 remains optimistic. Traders anticipate a "quick flush followed by an explosive Q4" in bull market years. This dip could set the stage for new all-time highs.
*Disclaimer: This is not financial advice. Always conduct your own research.*