Bitcoin (BTC) Approaching ‘Peak Opportunity’ Zone, According to Top Crypto Trader

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Bitcoin

Is Bitcoin Coming Near a Price Zone?

A famous crypto trader says that Bitcoin is coming near a price zone that could provide a distinctly favorable risk-praise ratio for lengthy-term BTC traders.

Pseudonymous crypto strategist Rekt Capital tells his 320,900 Twitter fans that this cycle might be distinctive for BTC as the king crypto continues to exchange beneath the 2 hundred-week shifting common (MA), a hallmark that has previously marked the bottom for the main virtual asset.

“Historically, the 2 hundred-week MA has figured as a bottom indicator for BTC. In this cycle, matters may be a bit distinct. Instead of BTC bottoming on the 2 hundred-week MA, it could form a macro range beneath it. Anything under the two hundred-week MA will probable constitute peak possibility.”

According to the crypto strategist, Bitcoin will probably face dealer exhaustion as it trades under the 200-week transferring common, which Rekt Capital says should eventually positioned long-term buyers in a position to pick out up BTC at a rate vicinity that offers most rewards.

“Across its complete records, BTC has continually downside-deviated under the 2 hundred-week MA, but this time? The drawback-deviation hasn’t had a sturdy/short healing returned above the 2 hundred-week MA. The BTC recuperation can also take longer, however it’s still a drawback deviation nevertheless.

BTC is attaining historic tiers of overselling. At a few factor, this severe overselling will coincide with the point of most monetary opportunity.”

Rekt Capital also says that while Bitcoin currently remains in a sturdy downtrend, it’s going to finally attain a conclusion, which would open the door for a brand new bull cycle.

“BTC may also still very well be within the ‘Downtrend Acceleration’ section of its correction however this phase will precede the ‘Multi-Month Consolidation’ section, to be able to precede the ‘New Macro Uptrend’ phase.”

At time of writing, Bitcoin is trading for $19,199.

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