After BTC recently fell below $117,000, a technical M-top pattern formed on the 3-day to weekly charts, turning the short-term trend bearish. The main question now is: How low will this correction go? There are two main theories: One is targeting $98,000, based on the June 20th starting point of $98,500, and a 1:1 correction after reaching the $124,500 high. The other, more radical, predicts a drop to $60,000-40,000. The argument is that the last bull market saw a 50% drop from around $64,000, so this one should also be calculated at 50%. A 50% drop from $124,550 would translate to around $62,300—a view that effectively declares the bull market over. But I think both of these views are too extreme! It's too emotional to predict a price of $60,000 or $40,000 on a dip, or $140,000 or $150,000 on a rise. If it's spot trading, it's perfectly acceptable to hold on, as another surge to the top is certain to occur in October and November. While a short-term bearish outlook is sound, the 1-day MACD indicator hasn't yet returned to zero, indicating a weekly correction hasn't been fully confirmed. We'll need to monitor this closely. Key points: If a weekly correction is confirmed, the price must first break below the $112,000 support level, then see if it can hold around $106,000. There's important news coming this Thursday. If positive news emerges and $112,000 holds, the rebound will continue. If not, institutions may abandon the $112,000-$110,000 resistance, potentially breaking the $110,000 mark and entering a deeper market correction. If $106,000 also falls, the bull market is essentially over. Overall, the potential low point is likely around $106,000. Want to get rich quick? Want to recover? Want to profit? Follow me and I'll help you position yourself for the bull market's main uptrend! $BTC $ETH #CryptoMarketPullBack #FederalReliefRegulatoryInnovation