Bitcoin Cycle Pattern Major Change! Can the 60-Day Cycle Ignite a New Round of Upward Movement?

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After falling below $100,000, the price of Bitcoin entered a correction, and the market cycle pattern has changed. Crypto analyst Bob Loukas pointed out that Bitcoin may shift from a 56-day cycle to a 60-day cycle, raising the question: Can Bitcoin rebound in the next two months, or will it continue to consolidate?

The cyclical patterns of the crypto market are an important component of technical analysis, often combined with tools such as Fibonacci extensions to predict price trends. In the past, Bitcoin has broken through multiple price levels within a 56-day cycle, even reaching an all-time high of $108,135. However, after breaking the $100,000 barrier, Bitcoin quickly retraced to $92,800.

Bob Loukas believes that the recent adjustment has pushed Bitcoin into a 60-day cycle. Although the change in the cycle is small, it could have significant implications, and the market's reaction remains to be seen. Based on the current trend, Bitcoin may face two scenarios:

If the adjustment effectively resets the cycle, a bullish rebound could occur, possibly reaching new highs.

If the consolidation continues, it may maintain narrow fluctuations over the next two months.

The current price of Bitcoin is $96,146. If it successfully enters the 60-day cycle and avoids another correction, it might pave the way for breaking through $100,000 and achieving an increase in early 2025.

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