A crypto strategist who managed Bitcoin’s pre-halving correction earlier this year warns that BTC could decline as resistance continues to mount.
The pseudonymous analyst Rekt Capital tells his 523,400 followers on the social media platform
“[Monday]Bitcoin showed some signs of a recovery rally, after which the price fell to near new lows. [Tuesday]Bitcoin [was] always bounce back to the old support. Overall, further downward movements can be expected as long as the previously lost supports turn into new resistance. Conversely, reclaiming these previously lost supports would obviously be bullish.”
The analyst also says that a Bitcoin correction is not unusual in these weeks of the current bull market cycle based on historical precedent and could set the flagship crypto asset up for rallies.
“BTC offers more confirmation of further downside than reasons to be bullish right now. As soon as Bitcoin reaches its…
