According to CryptoPotato, Bitcoin's price is currently undergoing a correction after failing to make a new all-time high. However, this does not necessarily indicate the end of the bull market. On the daily chart, the price failed to maintain above the $66K level, indicating a correction. Despite recently breaking above a large descending channel, the cryptocurrency has struggled to continue its upward trajectory, resulting in a false breakout. The Relative Strength Index (RSI) has also fallen below 50%, suggesting a bearish momentum. A decline towards the $60K support zone seems likely at this point.
The 4-hour chart presents a slightly more optimistic picture. The price has been consolidating within a horizontal channel. Although the market recently broke below this channel, it quickly rebounded back into it. If the price manages to climb back inside the channel, the market could potentially test the higher boundary of the pattern, located around the $72K mark. However, if the channel breaks down, a drop towards the $60K level could be imminent.
It's important to note that these analyses do not represent investment advice and individuals are advised to conduct their own research before making any investment decisions.