One widely followed crypto analyst says Bitcoin’s recent rally is turning old Bitcoin resistance into new support.
Pseudonymous cryptocurrency trader Rekt Capital To tell His 468,200 followers on social media platform
“BTC is breaking its daily downward trend.”
According to analysts, the $60,000 price range was acting as a barrier for BTC. But Rekt Capital now believes that barrier already exists. turned over to the foundation.
“Bitcoin has successfully turned an old major resistance into a new major support.”
According to crypto analysts, BTC is downward trend It took a month to create.
“Bitcoin has broken the daily downtrend that started a month ago in mid-April.”
An uptrend occurs when a downtrend breaks
Bitcoin finally hit its first high since bottoming out at $56,000. ”
Analyst too To tell BTC is on track to reach bull market highs next fall or winter.
“In the 2015-2017 cycle, Bitcoin peaked 518 days after the halving.”
In the 2019-2021 cycle, Bitcoin peaked 546 days after the halving
If history repeats itself and the next bull market peak occurs 518 to 546 days after the halving…
That means Bitcoin could peak in mid-September or mid-October 2025 in this cycle.
Currently, Bitcoin has accelerated this cycle by about 200 days.
Therefore, the longer Bitcoin consolidates after the halving, the better it will be to resynchronize this current cycle with the traditional halving cycle. ”
At the time of writing, BTC is worth $65,842, up 7% in the past seven days.
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