Experienced on-chain analysis expert Willy Woo has expressed concerns about Bitcoin 
$91,967 entering a prolonged correction phase. Woo pointed out on social media platform X that Bitcoin has limited time to avoid forming a negative pattern on the weekly charts. Should Bitcoin fail to initiate an upward movement in the near future, a negative divergence might emerge in the weekly charts.
Cryptocurrency Decline
The mismatch between Bitcoin’s price and technical indicators is closely monitored by investors. According to Woo’s evaluations, while the price reaches new highs, indicators like the Relative Strength Index (RSI) are forming lower peaks, signaling a negative outlook in the market. This is seen as a sign that Bitcoin is losing its upward momentum.
Willy Woo: “Dear Bitcoin, you must start moving up next week to avoid negative divergence on the weekly charts, or else there will be weeks of stagnation.”
Woo, using data from his analysis company Bitcoin Vector, noted that while Bitcoin remains fundamentally strong, the price has climbed faster than usual in recent months and is now trying to balance out.
Willy Woo: “Bitcoin’s internal dynamics and block reward halvings are weakening. Global liquidity is beginning to dictate Bitcoin’s movements. Relying solely on traditional four-year cycles might be misleading. Bitcoin stands out as an early indicator of global economic developments.”
Experts continuously emphasize that Bitcoin’s price movements can no longer be simply explained by inherent market cycles, and the ongoing weakness for the past five months is not only due to technical analysis but also trade tariffs.
Cryptocurrency Commentary
At the time of writing, Bitcoin is trading at 105,737 dollars. The expectation of a correction following rapid price increases in recent times might lead to a cautious approach in the crypto asset markets. The market’s direction in the coming period won’t be determined by technical indicators alone but by whether tensions between China and the USA reverse.
If the pressure on Bitcoin continues, it is foreseen that the negative divergence in the weekly charts could result in a prolonged horizontal or downward trend. A strong recovery could shorten or eliminate this process. Fortunately, BTC started the new week with an uptick, reclaiming a total market value of 3.31 trillion dollars despite low volume.
Due to the increasing influence of external factors, relying solely on historical cycles might not suffice in making investment decisions. In determining future directions, it’s emphasized that both technical and fundamental analyses need to be considered together.
