Trader Who Nailed Bitcoin Pre-Halving Correction Outlines Worst-Case Scenario for BTC – Here’s His Outlook

A intently watched analyst who rightly referred to as Bitcoin’s pullback earlier this yr reveals his most bearish situation for BTC.

In a video replace, pseudonymous analyst Rekt Capital tells his 90,500 YouTube subscribers that he’s intently monitoring Bitcoin’s reaccumulation help at $60,000.

In line with the analyst, a transfer under this stage will seemingly result in one other capitulation for BTC.

“But when we do not move this low vary right here, this new take a look at for the low vary, we could have one other interval of shopping for and a downward deviation under this low reaccumulation vary.

That is the place lots of people will capitulate, lots of people will expertise most pessimism and excessive concern.”

However Rekt Capital emphasizes that the concern, uncertainty and doubt (FUD) arising from a brand new provide breakdown is prone to current golden alternatives for long-term buyers.

In line with the analyst, Bitcoin has shaped and damaged a reaccumulation vary throughout this bull market cycle.

“However all these feelings, all these flamable, fiery, excessive feelings precede monetary alternative. This has been the case not solely on this case, but in addition in earlier intervals up to now all through the cycle. This cycle has typically been one in every of reaccumulation ranges, all the best way to the halving and new all-time highs.

Historical past teaches us that this will likely be no totally different…

The principle purpose is for the worth to easily lastly regain the low vary as help to rise to $70,000 for a problem to interrupt out of this reaccumulation vary, ending the reaccumulation part after the halving and at last shifting into the parabolic upside part after the halving. the cycle.”

On the time of writing, Bitcoin is buying and selling at $63,654, up 3% on the day.

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