Bitcoin Could Exit Danger Zone in 2 Days
Crypto analyst Rekt Capital has dropped a peculiar analysis on when Bitcoin might resume its upward trajectory. According to a post on social media platform X by the popular analyst, Bitcoin could finally exit the “danger zone” in the next two days. This prediction has come amidst speculations on when and whether Bitcoin would continue a price surge as current price action shows the crypto is now ranging around the $68,000 price level.
Bitcoin Exiting Danger Zone: Analyzing the Potential Implications
Bitcoin has been subject to various price outlooks from different crypto analysts in the past few weeks, especially after the recent completion of the halving. While some analysts are predicting a price drop to as low as $52,000, others are still bullish. Rekt Capital’s recent outlook regarding the cryptocurrency puts him among the latter category of analysts who remain bullish.
- Rekt Capital’s bullish prognosis
- Based on peculiar term “danger zone”
- Bitcoin’s price movement in 2016
- Observing correction phase after halving
- Danger Zone Extension
- Wick below $60,000 price level
- Post-Halving danger zone conclusion in two days
Bitcoin Price Outlook: Looking Ahead
Undoubtedly, Bitcoin’s breakout above this zone means it is now free from a strong move to the downside. From this point, all the roads lead to a price uptick if it continues to mirror the 2016 price action. Although Rekt Capital did not give a particular price target, his chart analysis indicates Bitcoin surging above $180,000, representing a 200% increase from the current price level.
What’s Next For Bitcoin?
At the time of writing, Bitcoin was trading at $60,728 and is down by 4.7% in the past seven days. The crypto is yet to return to the $70,000 price level since early April. It appears as if the supply and demand effect of the halving has yet to be factored into the price of BTC.
- Price Stagnation
- Historic price surges post halving
- Bitcoin dilly-dallying around $60,000
Hot Take: Will Bitcoin Surge Beyond $180,000?
Rekt Capital’s analysis suggests that Bitcoin may exit the “danger zone” in two days, paving the way for a potential surge beyond $180,000. This prediction aligns with historical price movements and indicates a bullish outlook for the leading cryptocurrency. Investors are advised to keep a close eye on Bitcoin’s price action in the coming days as it could set the stage for a significant uptrend in the market.
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