The crypto market is facing significant volatility, and Bitcoin is no exception. After hitting a record high of $109,000 in January 2025, BTC has sharply retraced, touching lows of $76,000 before stabilizing above $82,000. This 30% pullback has caused investors to worry, but technical patterns suggest it may be a temporary correction within a long-term bullish trend.

Retesting a Key Chart Pattern

Technical analyst Bit Amberly points out that Bitcoin is currently retesting the neckline of a long-term inverse head and shoulders pattern on the 2-week chart. This pattern previously led BTC out of its prolonged consolidation phase, fueling the rally to its January peak. Now, after experiencing rejection at higher levels, Bitcoin has returned to this critical support zone, showing signs of resilience.

Next Price Targets and Market Outlook

If Bitcoin successfully defends this crucial support level, it could mark the beginning of another strong bullish move. Analysts suggest that BTC could reclaim the $109,000 peak and potentially extend the rally toward the $140,000 mark. However, if this support fails, Bitcoin might face additional downside pressure before attempting another upward push.

Investors are closely monitoring BTC’s performance around the $76,000–$81,000 range. The next few weeks will likely define Bitcoin’s trajectory, determining whether it resumes a bullish path or faces prolonged consolidation.