Bitcoin Monthly – Drop First, Then New Highs?Bitcoin / U.S. dollarBITSTAMP:BTCUSDLunadigitalOn the monthly timeframe, Bitcoin is showing signs of a major corrective phase after forming a strong impulsive move toward the recent highs. The rejection from the upper zone indicates weakening bullish momentum, suggesting that the market may not continue upward immediately. Price is likely to follow a corrective structure, with a potential move toward the 0.618–0.786 Fibonacci retracement zone (≈58K–40K). This area aligns with a strong demand zone, making it a key region for potential accumulation. If Bitcoin successfully holds this zone, it could trigger a massive bullish continuation, targeting new highs above 120K+ in the long term. However, failure to hold support may lead to a deeper correction before any bullish recovery. Overall, the higher timeframe bias remains bullish, but a healthy pullback is expected before the next major rally. not financial advice