A well-known crypto analyst, known for his accurate predictions, is now highlighting a potential downside for the asset amid the recent correction.
The crypto expert, known as Rekt Capital, explained that while Bitcoin is currently in an upward trend, historical patterns suggest that a further decline is possible.
Rekt Capital pointed out that Bitcoin often experiences upward momentum, but it is typically followed by pullbacks, especially in the later weeks of a cycle. He warned that Bitcoin, which is now in what he calls “week seven,” could face a significant drop if it fails to maintain the $97,000 support level on the weekly chart.
If Bitcoin loses that key level, the analyst believes it could trigger a larger corrective phase, potentially signaling the start of a more substantial pullback.
Drawing on past cycles, the analyst projected that Bitcoin’s price could drop anywhere between 29% and 40% before potentially recovering.
He noted that similar price retracements, such as 34% in 2016 and 2017, have occurred during previous market cycles, underscoring the possibility of a deeper pullback before the next rally.
A well-known crypto analyst believes Bitcoin could reach record highs—if it clears a critical resistance level. DonAlt suggests that BTC needs to break past $101,000 to trigger a significant rally. According to him, this is the final barrier before Bitcoin can push into uncharted territory. “The setup looks solid. That’s why I’ve been saying to […]
Bitcoin remains in a consolidation phase above $100,000, showing no significant movements in the past 24 hours. Key indicators, including its position above the 50-day and 200-day SMAs, suggest continued bullish momentum, supported by an “Extreme Greed” market sentiment score of 83. The “3 Expansion Phases” pattern, highlighted by TradingShot, indicates Bitcoin could reach $150,000 […]
Crypto analysis firm MarktQuant has identified key price levels that will play a crucial role in Bitcoin’s next moves, drawing attention to both resistance and support zones that investors should watch closely. 🟠 $BTC Key Levels to Watch For the bulls to regain control, the price must soon surpass the critical resistance at 98.4k. Failure […]
Bitcoin (BTC) has just completed one of its longest re-accumulation phases in history, according to popular crypto analyst Rekt Capital. In a recent YouTube update, the anonymous trader pointed out that the cryptocurrency has been in an extended price discovery phase, surpassing previous cycles in 2021, 2017, and 2013. Rekt Capital explained that, unlike earlier […]