Bitcoin price is currently testing support levels below the $101,000 level. Bitcoin’s shallow correction suggests less volatility than previous pullbacks in 2021, 2017 A breakout above $107,000 may trigger a short squeeze, pushing Bitcoin to new highs. Bitcoin’s price has once again dropped below $101,000, sparking concern across the market. While the market is currently in a state of flux, this doesn’t mean the bull run is over. According to analyst Rekt Capital, Bitcoin is in a parabolic upside phase , which means we’ll see a series of price gains followed by corrections . These ups and downs were seen in past Bitcoin markets, such as during the 2021 bull run. Back then, Bitcoin experienced multiple price run-ups before a correction and then a bear market. What Happened in 2021 and 2017? In 2021 Bitcoin didn’t undergo the typical post-breakout retest , which means it moved higher without revisiting key resistance levels. On the other hand, the 2017 cycle saw Bitcoin successfully retest and confirm old resistance as new support before the price continued to rise. Source: X Related: Bitcoin Dominance Mirrors 2020/2021 Pattern: What Could This… The post Bitcoin’s Price Discovery Cycle: What Comes Next? appeared first on Coin Edition .
