Crypto analyst Rekt Capital indicates that Bitcoin 
$62,960 may enter a short-term consolidation phase before reaching its all-time highs. The analyst highlights the completion of Bitcoin’s initial upward trend, emphasizing the importance of establishing support levels. Maintaining these levels could facilitate a strong resurgence in Bitcoin’s price.
Price Movements and Technical Levels Take Center Stage
According to Rekt Capital, Bitcoin’s technical chart shows a stagnant trend, where preserving current support levels could boost upward momentum. The analyst asserts that while Bitcoin has completed its first upward wave, consolidation is vital for initiating a new upward movement. During this process, support levels can serve as significant references for investors.
The analyst notes that Bitcoin is signaling an exit from what he terms the “Initial Price Discovery Correction,” suggesting that a second upward wave may commence within weeks. Support and resistance points are critical for accurately assessing market trends. Particularly, the $97,700 level should be closely monitored as a strong resistance point, with breaking it possibly presenting a significant opportunity for Bitcoin to reach new highs.
Bull Market Dynamics and Future Projections
The analyst believes the current bull market could continue until the year’s end, with the cycle’s peak predicted for 2025. However, a new downward trend is anticipated to begin in 2026, which could last around 365 days. The analyst forecasts that this decline may range between 65% and 80%.
Bitcoin’s price movements should be closely monitored, as technical analysis tools can guide investors in determining their strategies. For long-term investors, tracking support levels is crucial. If these levels are maintained, reaching new peaks for Bitcoin appears likely.
While Bitcoin could sustain bull market dynamics until the year’s end, 2025 may signal a peak, and 2026 could be a year of decline. Observing market movements during these periods can aid in making accurate investment strategy decisions.
