A widely followed cryptocurrency analyst suggested that Bitcoin (BTC) could be on the brink of a downtrend. The expert made critical remarks about Bitcoin.
BTC Requirements for a Bull Cycle!
Cryptocurrency analyst Rekt Capital claimed on social media that the flagship cryptocurrency BTC is testing the support level of the bull market. The analyst stated the following:
Bitcoin is currently attempting to retest the support level of the bull market. If successful, Bitcoin will likely revisit lower resistance levels. However, a past indicator suggests that BTC should not hold above the exponential moving averages (EMAs) for too long.
According to the analyst, the leading cryptocurrency Bitcoin could reach peak levels in the autumn of 2025. The expert mentioned the following about the rise of Bitcoin:
If history repeats itself… The next bull market peak could occur 518-546 days after the halving. This could correspond to mid-September or mid-October 2025.
Following his predictions, Rekt Capital pointed out that any sudden downward trend could represent a last chance opportunity for long-term BTC investors. The cryptocurrency analyst stated the following about the matter:
If you think about it… The next 140 days could offer a never-before opportunity to buy at levels below $20,000, which has never been possible.
Bitcoin is currently trading at $27,383, experiencing a 2.7% decrease within the last 24 hours.
Consolidation Phase for LINK!
Blockchain oracle Chainlink (LINK) was mentioned by Rekt Capital, who predicts that LINK’s price will rise after a slight setback. Rekt Capital concluded the following:
The macro downtrend has ended. However, the macro range has not. If Chainlink fails to break the higher resistance… It is likely that consolidation will continue in the macro range, which can allow a retest of the broken macro downtrend.
At the time of writing, LINK was trading at $7.45, experiencing a 3.5% decrease within the last 24 hours.
