A Crypto Analyst Predicts a Potential Downward Move for Bitcoin
A well-known crypto analyst believes that Bitcoin (BTC) may experience another downward move soon. According to Rekt Capital, BTC is approaching its bull market support level and if it successfully holds above it, it could revisit the lower high resistance. However, the analyst points out that historically, Bitcoin has not been able to sustain its position above the exponential moving averages (EMAs) for long.
Predicting Bitcoin’s Peak in 2025
Rekt Capital also predicts that Bitcoin could potentially reach its peak in the fall of 2025. Based on historical patterns, the analyst suggests that the next bull market peak could occur around 518-546 days after the halving, which would be in mid-September or mid-October 2025.
Last-Chance Opportunities for Bitcoin Traders
The analyst highlights that any immediate downtrend in BTC could present last-chance opportunities for long-term traders. Rekt Capital suggests that the next 140 days may be the final opportunity to buy Bitcoin at low or even sub-$20,000 prices.
Chainlink’s Price Outlook
In addition to Bitcoin, Rekt Capital also provides an update on Chainlink (LINK). The analyst believes that while the macro downtrend for LINK is over, the macro range is still intact. If Chainlink fails to break above the range high resistance soon, it could consolidate within the range and potentially retest the previous macro downtrend.
Hot Take: Bitcoin Faces Potential Downside Move as Chainlink Consolidates
A prominent crypto analyst warns of a potential downward move for Bitcoin as it tests its bull market support level. If BTC manages to hold above this level, it could revisit the lower high resistance. However, historical patterns suggest that Bitcoin may struggle to sustain its position above the exponential moving averages (EMAs). The analyst also predicts that Bitcoin could reach its peak in 2025, with the next bull market peak potentially occurring in mid-September or mid-October of that year. In the meantime, any immediate downtrends in BTC could present last-chance opportunities for long-term traders. Additionally, Chainlink’s price outlook indicates a consolidation within its macro range, potentially retesting the previous downtrend.
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