 ▲ Bitcoin (BTC) © Coin Leaders |
Rekt Capital, an anonymous cryptocurrency trader, predicted that Bitcoin (BTC) will maintain its current level after a brief correction in the $59,000 range.
According to Daily Hoddle, a cryptocurrency media outlet, Rect Capital told its 478,800 followers on social media platform It was expected that trading would continue in the range of .
He diagnosed, "Immediately after the halving, Bitcoin always goes through the 'reaccumulation' phase and moves sideways in the range. This time too, Bitcoin is continuously fluctuating in the range for reaccumulation."
The analyst also said that Bitcoin's current cycle started faster than previous cycles but will likely slow down later, resulting in a more typical bull market.
“Historically, longer bull markets are generally expected. Bitcoin continues to slow down its acceleration in this cycle through consolidation in this re-accumulation period. The acceleration has already fallen from 260 days to 160 days,” he said. explained.
Rect Capital also predicted that Bitcoin could form a downward channel pattern on the weekly chart as it retests the key support level of $60,000.
The price of cryptocurrency leader Bitcoin (BTC) is trading in the $61,000 range as of the 26th (Korean time). This is a drop of approximately 17% from the all-time high of $73,750.07 achieved on March 14th.
