Key Points
- Bitcoin is in its third corrective phase since 2023, setting up for a potential surge.
- A breakout above $100K could trigger Bitcoin’s next parabolic surge, targeting $130K.
Bitcoin’s price action has always intrigued traders and investors, particularly in identifying cyclical patterns. Since the beginning of its bullish rally in early 2023, Bitcoin has entered its third corrective phase, similar to the pullbacks observed during the summers of 2023 and 2024.
Historically, these corrections have followed a predictable pattern, influenced by changes in key market metrics. If the past is any indicator, Bitcoin could stay in a range between $80K and $100K for the next 2-3 months. A decisive breakout above $100K could indicate the end of this correction and the start of another parabolic surge.
The Nature of Bitcoin’s Bullish Cycles
A Bitcoin bullish cycle follows a recurring pattern: rapid expansion phases, followed by multi-month consolidations. These corrective periods, although often seen as short-term declines, act as necessary resets, allowing markets to assimilate gains before continuation.
The current bullish trend, which began in early 2023, has already seen two extended correction phases. One occurred in the summer of 2023 and another in mid-2024. Both lasted about six months, with price action consolidating before Bitcoin resumed its upward trajectory.