Crypto Analyst Rekt Capital: BTC Could Fall To Early 2021 Levels
According to a top crypto analyst, known as Rekt Capital, Bitcoin (BTC) is in a risk of falling down to same levels where it started the year 2021.
The analyst shared with his 291K followers on Twitter BTC is at the moment in the process of forming a new support level around $38,000 mark. Should it fail to hold it, it will likely to become a new resistance level.
“Bitcoin is in the process of trying to turn the ~$38,000 area into support. If it fails to do that and ~$38,000 turns into resistance, BTC will confirm a return to the $28,000-$38,000 range which was home to consolidation in Q1 and Q2 in 2021.
Until then, retest in progress.”
#BTC is in the process of trying to turn the ~$38,000 area into support
If it fails to do that & ~$38K turns into resistance…$BTC will confirm a return to the $28K-$38K range which was home to consolidation in Q1 & Q2 in 2021
Rekt Capital points out that since 2020, Bitcoin has seen three consecutive red weekly candles only once. But, this week could mark the second time for three consecutive red weekly candles, should the existing trend continue for the leading digital asset. The outlook isn’t good, he says.
“Since late 2020, BTC has seen three consecutive red weekly candles only once before. Otherwise, BTC hasn’t declined for more than two red weekly candles in a row.
Will BTC print a third consecutive red weekly candle this week? Odds are not in BTC’s favor.”
Since late 2020, #BTC has seen three consecutive red Weekly candles only once before
Otherwise, $BTC hasn’t declined for more than two red Weekly candles in a row
Will BTC print a third consecutive red Weekly candle this week?
