Bitcoin’s next breakout movement could take 4 more months

Bitcoin’s selling pressure may be decreasing as traders experience unrealized losses of 12%, potentially leading to a period of sideways movement for up to four months. Despite this, Bitcoin’s metrics suggest a correction is still ongoing, with indicators like MVRV below its moving average. The market remains uncertain, with potential for further downside but a key turning point approaching in the next month or two. Despite this, there is confidence that Bitcoin will not drop below $77,000, consolidating at worst before resuming an upward movement. At the time of writing, Bitcoin is trading at $82,900, down 0.9% over the past 24 hours.