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 <p class="paragraph">Bitcoin (BTC) has made recent unsuccessful attempts to breach the $70,000 mark, leaving the market speculating about the next price trajectory, especially with the upcoming halving event less than a month away.&nbsp;</p>
 <p class="paragraph">While there is optimism that the halving will trigger another bullish rally, there remains a segment of the market that is not entirely convinced.</p>
 <p class="paragraph">In particular, crypto trading expert, <em>Alan Santana</em>, in a <em>TradingView</em> post on March 20 outlined potential correction targets for Bitcoin, shedding light on what could be in store for the maiden crypto.</p>
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 <p class="paragraph">The analyst noted that the recent <a rel="noopener noreferrer nofollow" title="correction" href="https://thebittimes.com/tag/correction.html">correction</a> that saw Bitcoin touch the $61,000 mark amid three days of trading in the red, could signal further downside for the digital asset.&nbsp;</p>
 <figure class="wp-block-image aligncenter size-large"><img decoding="async" width="1024" height="571" src="https://cdn.thebittimes.com/images/2024/03/21/ead97d24e5ebe0bdaa238a58cb9b5030.webp" alt class="wp-image-162600" srcset="https://cdn.thebittimes.com/images/2024/03/21/ead97d24e5ebe0bdaa238a58cb9b5030.webp 1024w, https://cdn.thebittimes.com/images/2024/03/21/ead97d24e5ebe0bdaa238a58cb9b5030.webp 300w, https://cdn.thebittimes.com/images/2024/03/21/ead97d24e5ebe0bdaa238a58cb9b5030.webp 768w, https://cdn.thebittimes.com/images/2024/03/21/ead97d24e5ebe0bdaa238a58cb9b5030.webp 1088w" sizes="(max-width: 1024px) 100vw, 1024px">
  <figcaption class="wp-element-caption"><em>Bitcoin price analysis chart. Source: TradingView</em>
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  <p class="paragraph">“This is now a high-probability probability trade-setup. &lt;…&gt; The bearish potential is very strong. &lt;…&gt; The down-move has a high probability to happen next,” he said.&nbsp;</p>
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 <p class="paragraph">As for specific <a rel="noopener noreferrer nofollow" title="target" href="https://thebittimes.com/tag/target.html">target</a>s during this anticipated <a rel="noopener noreferrer nofollow" title="correction" href="https://thebittimes.com/tag/correction.html">correction</a>,<em> Santana</em> pointed out that the first <a rel="noopener noreferrer nofollow" title="target" href="https://thebittimes.com/tag/target.html">target</a> being hit at $61,000 will likely be followed by subsequent <a rel="noopener noreferrer nofollow" title="target" href="https://thebittimes.com/tag/target.html">target</a>s at $53,500, $47,135, $40,200, and $33,525.&nbsp;</p>
 <h2 class="wp-block-heading" id="h-bitcoin-s-healthy-corrections-nbsp">Bitcoin’s healthy corrections&nbsp;</h2>
 <p class="paragraph">Despite the forecast, the analyst considered the correction as a healthy and necessary market adjustment. He emphasized the opportunity it presents for both seasoned investors to buy back at lower prices and for new entrants to join the market.</p>
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  <p class="paragraph">“It will go down only temporarily, based on the chart and historical data, and then resume going up,” he noted.</p>
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 <p class="paragraph">Looking ahead, he forecasted substantial growth for the cryptocurrency market, including Bitcoin, in the coming years. He highlighted that 2024 and 2025 are <a rel="noopener noreferrer nofollow" title="potential" href="https://thebittimes.com/tag/potential.html">potential</a>ly pivotal years for the market’s expansion.</p>
 <p class="paragraph">It’s important to note that the projection comes after Bitcoin briefly touched the $68,000 mark fueled by the policy decisions of the latest U.S. Federal Reserve meeting, which opted to maintain interest rates at their current levels and suggested the possibility of multiple rate cuts throughout the year.&nbsp;</p>
 <p class="paragraph">This announcement ignited a surge in global stocks and cryptocurrencies alike since the environment of reduced interest rates typically bodes well for risk assets such as Bitcoin.</p>
 <p class="paragraph">In the meantime, Bitcoin is facing challenges in reclaiming the $70,000 mark, a factor that has been partly attributed to significant outflows from certain spot exchange-traded funds (ETFs).</p>
 <h2 class="wp-block-heading" id="h-bitcoin-price-analysis">Bitcoin price analysis</h2>
 <p class="paragraph">By press time, Bitcoin was valued at $66,940, marking a gain of over 6% in the last 24 hours. However, over the past seven days, BTC has experienced an 8% decline.</p>
 <figure class="wp-block-image aligncenter size-full"><img decoding="async" width="675" height="550" src="https://cdn.thebittimes.com/images/2024/03/21/c2d60beaf1d20dd18fe3288da560d7c7.webp" alt class="wp-image-162599" srcset="https://cdn.thebittimes.com/images/2024/03/21/c2d60beaf1d20dd18fe3288da560d7c7.webp 675w, https://cdn.thebittimes.com/images/2024/03/21/c2d60beaf1d20dd18fe3288da560d7c7.webp 300w" sizes="(max-width: 675px) 100vw, 675px">
  <figcaption class="wp-element-caption"><em>Bitcoin seven-day price chart. Source: Finbold</em>
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 <p class="paragraph">In summary, Bitcoin’s ability to maintain its valuation above the $60,000 mark remains a crucial point to monitor. A drop below this level could <a rel="noopener noreferrer nofollow" title="potential" href="https://thebittimes.com/tag/potential.html">potential</a>ly signal further <a rel="noopener noreferrer nofollow" title="correction" href="https://thebittimes.com/tag/correction.html">correction</a>.</p>
 <p class="paragraph"><strong><em>Disclaimer:</em></strong><em>&nbsp;The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.</em></p>
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<p>Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/here-are-next-potential-bitcoin-correction-targets-to-look-out-for-tbt83138.html">https://thebittimes.com/here-are-next-potential-bitcoin-correction-targets-to-look-out-for-tbt83138.html</a></p>

Here are next potential Bitcoin correction targets to look out for

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