Trader Warns Bitcoin Reversal Likely Based on Historical Precedent, Updates Outlook on Chainlink


A broadly adopted crypto analyst says Bitcoin (BTC) could also be on the verge of a closing leg to the draw back.

Crypto dealer Rekt Capital tells his 355,900 followers on the social media platform X that BTC is about to check its bull market assist band.

“Bitcoin is now making an attempt to retest the bull market assist band as assist.

If profitable, Bitcoin will seemingly revisit the decrease excessive resistance once more (blue).

But when historical past is any indication, BTC shouldn’t have the ability to maintain above the EMAs (exponential transferring averages) for too lengthy.”

Supply: Rekt Capital/X

In keeping with the analyst, BTC may doubtlessly peak within the fall of 2025.

“If historical past repeats itself…

Subsequent bull market peak may happen 518-546 days after the halving.

That’s mid-September 2025 or mid-October 2025.”

Supply: Rekt Capital/X

Within the midst of his predictions, Rekt Capital factors out that any instant downtrend may characterize last-chance alternatives for BTC merchants within the lengthy sport.

“If you concentrate on it…

The following 140 days could current the final EVER alternative to purchase within the low and even sub-$20,000s”

Supply: Rekt Capital/X

BTC is value $27,383 at time of writing, down 2.7% within the final 24 hours.

Concerning blockchain oracle Chainlink (LINK), Rekt Capital foresees LINK’s value transferring up after some chop.

“The macro downtrend is over. However the macro vary just isn’t. If Chainlink can’t break the vary excessive resistance quickly…

Continued consolidation contained in the macro vary is probably going, which may allow a retest of the damaged macro downtrend itself.”

Supply: Rekt Capital/X

LINK is value $7.45 at time of writing, down 3.5% within the final 24 hours.

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