BTC continues to hold below the neckline of the double top and below $82,500. And on the lower timeframes, we can see it tightening.

So far, #BTC has held up without showing a shift into a sustained downtrend, even on the 5-minute timeframe. But right now, in this hour, the market is poised for a pullback from Thursday’s gains. The signal and forecast come from our P73 CryptoMarket Monitor: in this hour, 63 assets from the TOP 200, including #ETH, have been flagged as potentially reaching a high on the hourly timeframe. Its forecast: “High probability of a market correction in the coming hours.”

The timeframe is one of the lower hourly ones, BUT the number of assets—63—is quite significant.

Over the next three hours, we expect the bounce high to be established (if it hasn’t been already), followed by a price pullback. The nature of the correction will make it clear what we’re dealing with: a correction followed by continued growth, or a bearish engulfing pattern.

The widespread potential-low signals across the market on the 12-hour timeframe support continued growth, as we’ve written. BTC in particular already has two potential-low signals on the 18-hour timeframe, while liquidity zones on both that timeframe and the daily timeframe have held.

The equally widespread potential-high signals across the market on the 3-day and weekly timeframes support a continued correction. As a reminder, BTC currently has its third signal out of three possible ones, and there are three days until this candle closes. Essentially, there’s still a window for growth on Friday and over the weekend (and lately, the asset has been performing quite well on weekends).

The picture is mixed, but while the steady downtrend on the 3-hour timeframe persists, we still expect the correction to continue.