Popular analyst TechDev says Bitcoin (BTC) is still in a correction phase, but this is not a bear market.
Brothers to speak with its 334,000 Twitter followers that the BTC correction is coming to an end and Bitcoin is preparing for the start of the next phase of its cycle.
“In my opinion there is still a rally before a downward momentum sets in, which defines a real bear market for me.
BTC will soon hit the bottom of the correction, similar to the second yellow arrow seen in previous cycles.
For me, BTC is about to start the last upward impulse.
However, I cannot see the beginning of a downward pulse after years of correction. That’s just not how the market works. “
BTC / USDT 3-day chart | Source: TechDev / TradingView
The analyst said he believes BTC will see another big bull run in the first half of this year.
Bitcoin is trading at $ 42,198 as of press time, 10.5% less than a seven-day high of $ 47,346.
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