Bitcoin (BTC) Correction Ends As Bulls Take Over — Here’s What’s Next

Key Takeaways

• The Bitcoin (BTC) price has bounced admirably since June 22.
• Bitcoin has fallen since its all-time high price on May 22.
• Is Bitcoin’s correction over, or will the price continue to fall?

Bitcoin’s price decreased after its all-time high but recovered starting on June 6.

BTC could not sustain its recovery, and the price accelerated its decline last week, causing it to lose a key support level.

Nevertheless, Bitcoin regained its footing this week and is creating a bullish engulfing candlestick.

Let’s examine the charts and see if the Bitcoin correction is finally over.

Bitcoin’s Bullish Candlestick

The price of Bitcoin has fallen since its all-time high of $112,000 in May 2025.

Initially, the Bitcoin price was above the $104,000 horizontal area, the previous all-time high.

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Therefore, the decline was considered a retest of the previous resistance level.

However, Bitcoin’s price fell last week, closing below $104,000 amidst a large bearish candlestick (red icon).

Nevertheless, the BTC price regained its footing and is creating a bullish engulfing candlestick this week.

While Bitcoin reclaimed its lost support, technical indicators are decisively bearish.

The Relative Strength Index (RSI) and Moving Average Convergence/Divergence (MACD) generated bearish divergences before the decline.

Both indicators are falling and are close to reaching their bearish thresholds.

As a result, the weekly time frame of the Bitcoin price analysis does not confirm whether the trend is bullish or bearish.

Has Bitcoin’s Correction Ended?

Unlike the weekly chart, the daily one suggests that Bitcoin’s correction has ended.

The wave count shows a completed five-wave upward movement starting on April 7 and ending with the all-time high on May 22.

Then, BTC completed an A-B-C structure contained inside a descending parallel channel, where wave B created a symmetrical triangle.

While wave C was shallow, it ended at the channel’s support trend line. The entire correction had 0.68 times the length of the upward movement, one of the most common ratios for corrections.

Today, the Bitcoin price attempts to break out of the channel. If it does, it will confirm the correction is over and lead to a new all-time high price.

Bitcoin Has Bottomed

The Bitcoin price has fallen since its all-time high in May, briefly declining below $100,000 on June 22.

However, the wave count suggests the price has finished its correction.

Bitcoin is creating a bullish engulfing weekly candlestick that will confirm the correction’s end.

A new Bitcoin all-time high is likely in July.