Daily Market Analysis: Bitcoin in a Correction Trend
2024-11-13

Daily Market Analysis: Bitcoin in a Correction Trend

Bitcoin is currently undergoing an impressive technical correction of about 5% , with signs of re-accumulation. It appears we are in the midst of an accumulation phase on the 4-hour chart ⏳, with a possibility of a decline to the $84,000 area per coin before resuming the upward trend .

 Technically: We are at the peak of the bullish trend, and at this stage, the market does not show signs of upward tension, which may support the current stability.

 Fundamentally: Today, three CPI reports with positive forecasts  are expected, potentially prompting temporary declines until 15:30, followed by a significant jump. Even if the reports are released with a slight delay and the results come out later in the evening, this is an accumulation process with potential for record levels .