#Will Bitcoin break the all-time-high price before the halving?

Bitcoin analysts say BTC price correction is just ‘healthy consolidation’
Traders say Bitcoin’s sell-off was needed, and dips are likely to be viewed as buying opportunities.

Bitcoin (BTC) set a new all-time high at $69,324 shortly after the opening bell on Wall Street on March 5, before sharply correcting 9.75% to $59,323, which analysts have described as a welcome move before “healthy consolidation” occurs.

BTC/USD daily chart. Source: TradingView
While BTC is still up 12% over the last seven days, the pioneer cryptocurrency’s flash crash left market participants wondering where the price will go moving forward.

Market analyst Aksel Kibar shared a chart showing Bitcoin reached above $69,000, calling it the “FOMO stage.”

BTC/USD price chart. Source: Aksel Kibar/X
In a March 4 post on X on March 4, Kibar spotted BTC trading within the $65,000 and $68,000 ranges, heading toward the November 2021 peak of around $69,000. He warned investors not to be caught up in the fear of missing out at that level.

“$BTCUSD I don't think this is a breakout to an all-time signal. Don’t FOMO this part of the move.”
Head of research at Galaxy Research, Alex Thorn, focused his attention on Bitcoin’s historical price action, particularly in 2020, when it retraced briefly after hitting new all-time highs.

Thorn implied that if history repeats itself, BTC is likely to drop “11.3% lower over 15 days before definitively breaking ATH” again over the next few weeks.

BTC sends a sell signal on the daily chart
The mid to low $50,000s is a possible retracement where a potential dip could occur. On March 2, Peter Brandt shared a chart showing BTC trading in a wide ascending parallel channel with short-term support below $55,000 provided by the pattern’s middle boundary.

“I believe a dip below 55,000 would be a buying opportunity, although such a dip is not my prediction.”