Skip to content Skip to sidebar Skip to footer


A widely followed crypto analyst sets a timetable for the end of Bitcoin (BTC) bear market woes.

Pseudonymous analyst Rekt Capital updates their 329,600 followers on the current timeline of the BTC bear market versus last year’s bull market.

“It’s been about 400 days since the peak of the BTC bull market at $69,000

Which means this bear market is getting closer and closer to the end

Historically, BTC bear markets find their absolute floor around 365 days after the previous bull market peak.

With BTC trading for $16,831 at the time of writing, Rekt Capital attracted a line in the sand for the crypto leader by market cap.

“BTC still below ~$17,150 resistance (blue)

A monthly close below ~$17,150 would likely further confirm this level as resistance and send BTC back to lows of ~$15,400

Another retest of around $15,400 may not hold, especially after such a weak reaction since November.

Source: Rekt Capital/Twitter

Next, the analyst turns his attention to Ethereum (ETH) rival Cardano (ADA). Unfortunately for ADA holders, Rekt Capital foresees more problems for the smart contract platform.

“More downsides ahead for ADA as there is no major support below for a while

The next major support for ADA is at $0.15

That’s a -40% drop from current prices.

Rekt Capital then looks to Monero (XMR), a cryptocurrency specifically designed to make transactions untraceable.

“Went to highs in the black range for about 1.5 years before distributing

XMR has since turned the Range Low into a new resistance to confirm the breakdown

Continued rejection here and XMR could revisit its historical accumulation range (green).

Source: Rekt Capital/Twitter

Finally, Rekt Capital analyzes Basic Attention Token (BAT), predicting that the browser’s privacy token could fall price early next year.

“Let’s now challenge the multi-year green support Higher Low (HL)

Historically, quarterly wicks below the HL have preceded lows

If BAT 3 million closes above the green HL by the end of the year, it is possible that a downward wicking effect will occur in the first quarter of 2023.”

Source: Rekt Capital/Twitter

Don’t miss a beat – Subscribe to receive crypto email alerts straight to your inbox

Check price action

follow us on Twitter, Facebook and Telegram

Surf The Daily Hodl Blend

Check the latest news headlines

&nbsp

Disclaimer: Opinions expressed on The Daily Hodl are not investment advice. Investors should do their due diligence before making high-risk investments in Bitcoin, cryptocurrency or digital assets. Please note that your transfers and transactions are at your own risk and any loss you may incur is your responsibility. The Daily Hodl does not recommend the buying or selling of cryptocurrencies or digital assets, nor is The Daily Hodl an investment adviser. Please note that The Daily Hodl engages in affiliate marketing.

Featured Image: Shutterstock/Sensvector/world01





Source link

Leave a comment