Top Analyst Says, BTC Is Close To Losing Key Support Level

As the king crypto struggles, a popular crypto expert predicts Bitcoin (BTC) may lose a crucial support level.

Rekt Capital, a pseudonymous trader, is advising fellow traders that BTC is down 2% today at $22,517.

The expert recommends BTC closing above $22,692 to maintain its technical rise.

“Bitcoin held the trendline well yesterday, whereas today’s price is downside wicking below it.

BTC needs to daily close above the green Higher Low to keep the technical uptrend intact.”

The trader believes Bitcoin might return to its bull zone.

“BTC is threatening to lose its multi-week Higher Low (green) after rejecting from ~$23,400 resistance.

At this stage, BTC could still recover back into the green triangle and have this price action print as a downside wick. This Higher Low is the one to watch.”

The trader also discusses crypto trading mentality.

“After a successful trade, dopamine is released in the brain, leading to the desire to repeat this experience. Try to go against this urge.

Let the euphoria of the win die down. And allow enough time for your neurological chemistry to return to baseline.”

The trader cautions against FOMO-based trading.

“If you FOMO on a green day… You won’t have enough ammo to FOMO on a red day. If you must FOMO – choose a red day.”