Bitcoin's BTC/USD ongoing correction phase is following a pattern similar to previous bull market pullbacks, according to technical analysis.
What Happened: Technical analyst Kevin noted on Patreon that Bitcoin's correction patterns tend to "rhyme" across cycles, regardless of broader macro conditions.
Drawing comparisons to prior bull markets such as 2017 and 2023, he emphasized that 30%+ drawdowns do not necessarily signal the end of a rally as long as critical support levels hold.
Historical analysis shows that BTC correction phases typically last between 114 and 174 days, based on recurring momentum indicator patterns.
Applying this framework, Kevin estimates the current correction could resolve between Nov. 19 and Dec. 23, with an extended case stretching to mid-January if the cycle runs long.
He highlighted $106,800–$97,000 as the key bull market support range, encompassing the macro 1.703 Fibonacci level, golden pocket, 50-week SMA, and 2-day 200 SMA/EMA.
Maintaining this range is crucial for preserving Bitcoin's bullish structure, a breakdown would likely confirm a deeper bearish shift.
Also Read: Bitcoin Steadies Above $110,000 As Ethereum, XRP, Dogecoin Slip On Thursday
Why It Matters: Kevin cautioned that the fate of the ongoing bull market hinges on Bitcoin holding these technical supports while macroeconomic conditions remain stable, without fresh inflationary or geopolitical shocks.
For traders, he recommends mirroring his successful Q1 playbook:
- Track Bitcoin's support levels closely.
- Watch USDT dominance resistance zones for early signs of market recovery.
- Stay aligned with macroeconomic trends to identify turning points.
If Bitcoin holds these supports, the correction phase could mark a reset before another leg up. Failure, however, could signal the end of the current bull cycle.
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