Bitcoin Price May Be Approaching Major Correction Zone: Analyst

Bitcoin's price may be approaching a major correction zone, according to on-chain analyst Chain Mind.

The warning comes as Bitcoin currently trades inside a rising wedge formation on higher-timeframe charts, a pattern where prices continue moving higher within narrowing boundaries before momentum weakens and the structure breaks downward.

Chain Mind's chart marked the current setup with yellow dots placed at the precise points where Bitcoin previously topped out after brief 'fake pump' rallies before broader selloffs began.

The analyst warned that if history repeats, Bitcoin will start dumping soon.