"According to the analysis, the price of Bitcoin (BTC) may be heading for further correction based on clusters of price action above the $71.6K mark. 📉 Rekt Capital analyst points to a possible decline, saying: "When Bitcoin forms clusters of price action near the upper limit of the ~$71,600 range "This is a precursor to a decline to the lower levels of the range." BTC may need a correction below $64K for a healthy reset before entering the "parabolic phase" of the bull cycle. However, the technical formation on the monthly chart suggests that Bitcoin could fall below the $60K mark."