Bitcoin has been on a rollercoaster ride lately, hitting an all-time high of $108,266 before correcting by about 10%. This correction has resulted in a bear crossover on the BTC/USD chart, with the 50-hour simple moving average (SMA) crossing below the 200-hour SMA. This pattern suggests that further correction could be on the cards, however, recent bear crossovers during the bull run have not played out as strongly as one might have expected. There were multiple corrections along the way as Bitcoin rallied from $70,000 to $100,000 following the US elections, each time a bear cross appeared to be marking their end. Therefore, traders are again looking for a bounce in Bitcoin this time around. The potential resistance zone is seen at $100,600, a break above which could see a fresh record high.

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