Bitcoin Price Forecast: Is a Pullback Looming?

Bitcoin (BTC) is close to its all-time high, but signs of weakening buying momentum suggest potential consolidation or a minor

correction. The Directional Movement Index (DMI) shows BTC’s ADX trend strength has fallen to 29.26 from over 40, signaling

reduced upward force. Currently, selling pressure has a slight

edge, with the -DI line at 24.5, overtaking the buying strength at 20.6.

The Net Unrealized Profit/Loss (NUPL) indicator also shows a

small decline in unrealized profits, indicating investor caution.

While Bitcoin’s short-term moving averages still signal a bullish

trend, the narrowing gap shows slowing momentum. If BTC

holds support at $65,503, a push to new highs above $73,618 is possible. However, if it breaks, a pullback to $62,043 could

occur, marking an 11.4% dip.

Will BTC reach new highs or face a temporary dip? Market

sentiment will be key in the coming weeks.

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