Farcaster

This is shaping up to be one of the biggest weekly red candles for $BTC since August 2024, when Bitcoin experienced its last significant correction.

If this is another corrective phase within the broader bull market (which seems likely), we should see $BTC finding support in this range and bouncing toward the mid-$70Ks. That would establish a corrective channel similar to the one we saw in the summer of 2024.

From there, two main scenarios emerge:

1. A swift recovery: Bitcoin establishes a strong low and moves directly toward $110K.


2. A more extended correction: We see a lower high under $100K, followed by another dip into the low $70Ks (or even high $60Ks) before resuming the uptrend.



Either way, this still aligns with historical correction patterns, and both paths point toward new all-time highs in Q2. The faster this plays out, the better for momentum.