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<p>Veteran crypto analyst <strong>David</strong> <a href="https://twitter.com/DavidOnCrypto_/status/1742296484169560214" target="_blank" rel="noopener noreferrer nofollow">provided</a> a noteworthy update on Bitcoin’s price outlook as it approaches formidable technical resistance:</p>
<p><strong>“Only the “2020-type run” from that same IH&amp;S neckline can safe BTC from a -30 to 40% correction. Big if #BTC can go through the $52k level… This 2020 similarity would mean $130ks by March,”</strong> said David.</p>
<p>Thus far, Bitcoin’s advance has followed nicely within the bounds of an inverse head and shoulders bottom pattern David cited for months. However, with BTC reaching the formidable zone between $46,700 and $52,000, doubts emerge on continuation potential without a rapid break higher soon.</p>
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<p>Namely, David believes only a parabolic, V-shaped rally reminiscent of Bitcoin’s 2020 pre-halving run can prevent an imminent 30–40% correction at this stage following +100% gains off the lows.</p>
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<p>Moreover, achieving escape velocity through the $52K resistance sets the ambitious $130K BTC target by March in play, according to his analysis. This is a fitting culmination for those postulating the crypto ETF approval, marking a buy-the-news paradigm shift rather than a sell-off event this cycle.</p>
<p>In summary, Bitcoin faces its moment of truth with several indicators flashing warnings, but a history-rhyming vertical trajectory is still possible, as highlighted by David this week. How price action behaves around $52K resistance should determine which outlook plays out.</p>
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<p>The post <a href="https://captainaltcoin.com/bitcoin-analyst-shares-the-only-thing-that-can-save-btc-from-a-30-40-correction/" rel="noopener noreferrer nofollow">Bitcoin Analyst Shares The Only Thing That Can Save BTC From A 30-40% Correction</a> appeared first on <a href="https://captainaltcoin.com" rel="noopener noreferrer nofollow">CaptainAltcoin</a>.</p>

Bitcoin Analyst Shares The Only Thing That Can Save BTC From A 30-40% Correction

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