Bitcoin: Analyst Flags Correction End

Bitcoin trader @CryptoMichNL stated on October 7 2026 that the correction phase is nearly complete. Price sits at $83032.06 inside the Bollinger Bands with upper resistance at $87230.24 and lower support at $82232.86. The 4h structure remains bearish as price trades below the EMA50 at $84489.02 yet holds above the EMA200 at $82173.24, while MACD prints a death cross at -580.1 and RSI rests neutral at 32.51. This confluence points to potential consolidation near the lower band before any sustained move higher, consistent with BTC price prediction models that track similar setups over the past six months. Bitcoin correction analysis shows the death cross often precedes short-term volatility spikes rather than immediate reversals in crypto market trends.