Is this Bitcoin's last correction?

Since the beginning of last month, the price of Bitcoin has been included in the green candle. Last month if green candlesticks were forming one after another as well as Bitcoin was making new history and Bitcoin was hitting new highs one after another. But a few days ago suddenly the price of Bitcoin started to fall and the green candle gradually turned into a red candle. The daily chart has produced three red candles in a row for the first time since the first week of November. And this time was coincidentally in the lead-up to the US presidential election victory. A few days ago, the price of Bitcoin rose above the all-time high of $180,000, and from there, the price suddenly started to fall, and the price gradually came down to around $92,000. Although currently the price of Bitcoin is trading above 97 thousand dollars.

source

The daily chart has now produced three red candles in a row which is basically another similarity between the last time three or more red candles were observed. And that match essentially retested the Bitcoin 50-day EMA level. However, due to the current fall in the price of Bitcoin, the price of Bitcoin as well as other coins has fallen significantly. If we review the past bitcoin halving times, it can be seen that in those times as well, the price of other coins as well as bitcoin decreased during this period. Which is basically what we know as bitcoin correction. Currently, BTC is down more than 15% from its new all-time high. But many are questioning whether this is the last Bitcoin correction in the bull market ahead.

As we saw yesterday, the price of Bitcoin suddenly came close to $92,000. However, Bitcoin has bounced back a bit since then and is currently hovering above $97,000. But currently BTC's correction may have reached a conclusion. BTC's current decline is a pretty deep correction as other coins have bled into it. Due to a huge bearish divergence between the price of Bitcoin last month and the Relative Strength Index (RSI). Such divergences are usually followed by declines of 8% to 10%. But currently Bitcoin is forming a support here. Bitcoin may make a retest to break the $130,000 support and if successful, expect Bitcoin to make a new all-time high. And if that happens, it could be Bitcoin's last major correction.

However, the reason behind the decrease in the price of Bitcoin is that the pressure of selling after hours is increasing. And as this selling pressure increased, the amount of losses also rose above the weekly average. A huge amount of money has been liquidated due to this price fall in the market in the last few days. Especially those who are future traders have lost huge amount of money during these times. However, if bitcoin is to move into a good position at present, it must form a green candle in this position and close the daily candle above $95,000. And luckily if Bitcoin succeeds in retesting $130,000 then we're going to see something good and create a new all-time high and hopefully end the Bitcoin correction.