Bitcoin Price Analysis: Potential 25% Rally Following Recent Correction
Bitcoin recently declined to $103,300 as traders reduced exposure ahead of the Federal Open Market Committee (FOMC) meeting. This movement coincided with geopolitical tensions and a bearish weekly close, signaling potential trend reversal.
Technical Outlook and Key Levels
Analysis suggests Bitcoin may find support between $102,000-$104,000. Historical patterns indicate possible 25% rallies following similar corrections, potentially reaching $130,000 by quarter’s end. The $106,748 level serves as critical resistance.
On-Chain Activity and Holder Behavior
Data from Glassnode shows mid-term holders realized $904 million in profits recently. Meanwhile, long-term holders continue accumulating, with Axel Adler Jr. noting this historically precedes bullish movements.
Market Summary
- Current Bitcoin price reflects pre-FOMC caution
- Technical setup suggests potential rebound opportunity
- Holder activity indicates divided market sentiment
Next Steps for Traders
Monitor the $102,000 support and $106,748 resistance levels closely. Consider market reactions to FOMC decisions and geopolitical developments when evaluating positions.
