A widely followed crypto trader is confident that Bitcoin (BTC) will soon break its macro downtrend as the top crypto by market cap trades near $25,000.
Pseudonymous cryptanalyst Rekt Capital says his 338,100 Twitter followers to keep an eye on BTC and buck the trend soon.
“BTC will break the macro downtrend sooner rather than later.”
the analyst keep going, explaining in more detail what exactly breaking the downtrend next will mean for the king of cryptocurrencies. According to the trader’s chart, the imminent BTC trend break will spur a new “macro money flow cycle”.
“When BTC breaks the macro downtrend…
It will start a new macro Money Flow Cycle.”
Rekt highlights a particular price point when talking about macro downtrend resistance. The analyst seems indicate that BTC must break the $24,755 range to flip the script.
“BTC is just below macro downtrend resistance.”
In a follow-up tweet, Rekt also Explain the importance of the moment.
“BTC is below macro downtrend resistance
But the way the downtrend builds, the breakout price point will be ~$23,400 next month
So if BTC holds these highs or just holds above ~$23,400 before April…
It will record a technical break.”
BTC is worth $24,879 at the time of writing, hovering on the brink of $25,000. BTC is up 1.46% in the last 24 hours.
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