$BTC Correction : Watch for Double Bottom or Deeper Drop to 88k

Bitcoin faced a clear rejection around the 116,500 zone, marking a fresh lower high and confirming that a corrective phase is in play. At this stage, price action suggests a potential formation of a double bottom or a wick recovery setup — with nearly 70% of the wick zone likely to be filled as liquidity gets tapped.

In the bullish case, a rebound from the current structure could fuel an upside move once the lower support holds. However, if BTC loses the 98,000 support, it opens the door for a deeper correction toward the 88,000–90,000 range.

For now, short trades remain more favorable until we get a confirmed double-bottom or clear reversal signal. Once the market structure shifts and liquidity from the lower zones gets cleared, long setups can be reconsidered.

Let’s see how Bitcoin reacts around these levels — the next few candles will define whether the correction deepens or reverses.

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