Bitcoin enters the equivalent expansion phase after successfully broken the trend: encryption analyst
A follow -up analyst is closely said that Bitcoin (BTC) has succeeded in breaking the downward trend with strong price measures.
The pseudonym known as Rekt Capital tells his 543,000 followers on the social media platform that BTC has succeeded in breaking Qatari resistance and its heart to support after staying over $ 85,000.
“Bitcoin has not only broke the declining direction and successfully re -extracted it as support for the first time since the formation of the declining direction
But Bitcoin has also managed to maintain a sustainable direction for several consecutive days now. “
Rekt capital also He says BTC is likely to be in the first corrective stage of the “banana area”, or a stage of equivalent to Bitcoin after breaking the last round levels.
The analyst suggests that BTC will soon rise to its highest levels ever before entering a new corrective stage and launching the bull market peak.
Technically, we must see the upward trend, but instead we get [consolidation]. “Banana Zone” is a term that is an equal stage of the course when it comes to the bitcoin price process whenever it exceeds the highest old levels ever to new levels at all.
What happens with the Bitcoin price when it is divided to its highest levels ever, yes, we see a bonus up to those new high levels at all, but sometimes when we achieve its highest levels ever, it can be more clear, so it tends to be more clear in and around the ancient high region and around it, and tend to be also in a state of roughness again at all.
What this means is that we will see an additional aspect, so that it enters us in the second corrective stage. We tend to see at least two corrective periods in discovering prices. ”
At the time of writing this report, BTC is trading at $ 87,523.
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