Has the BTC correction ended???

Conclusion: Before a fierce correction, BTC is highly likely to see $100,000. As long as it breaks $100,000, this wave's peak will definitely exceed $100,000.

However, I personally feel it is unlikely to exceed $110,000. Because based on past experience, once an important psychological barrier is broken, it doesn't go too far. For example, after the last wave broke $40,000 in January 2021, it only reached around $41,950.

Look at the daily adjustments of BTC at high positions over the past few days. Just by looking at this momentum, you can tell there is no panic in buying, directly relying on the upper channel to buy explosively.

No matter which technical indicators you look at, whether on the daily or weekly chart, BTC is in an absolute overbought state, but overbought conditions will only lead to more overbought situations until panic selling and a fierce crash occur.

The past triggers for BTC crashes include:

1. U.S. stocks falling

2. Negative news (such as regulatory crackdowns)

3. Just simply rising too much then crashing

This time, it does not appear that U.S. stocks will crash, and the arrival of the understanding king has offset 90% of the negative news. So the reason is simply that it has risen too much and is about to crash.

I personally believe there is no need to fear missing out; waiting for altcoins to have a fierce correction of 30-40% is the real opportunity to buy at the bottom.

Remember, in January 2021, BTC's correction was the beginning of the altcoin season.