A prominent cryptocurrency analyst suggests that Bitcoin recent surge has transformed a former resistance level into a newfound support zone.
Rekt Capital, a pseudonymous crypto trader, informs their extensive following of 468,200 users on the X social media platform that Bitcoin’s 2% jump within the past 24 hours might signal the conclusion of a downtrend.
Analyst Anticipates Bitcoin Future
The analyst posits that the $60,000 price range had served as a formidable barrier for BTC. Nonetheless, Rekt Capital now contends that this obstacle has been reversed into a foundational support level.
“Bitcoin has successfully converted the previous significant resistance into a crucial support level.”
According to the crypto analyst, BTC’s downtrend has persisted for one month.
Bitcoin’s Daily Downtrend, which began in mid-April, has now been broken after a month.
When downtrends are broken, uptrends typically follow.
Moreover, Bitcoin has recently achieved its first higher high since hitting a low of $56,000.
According to the analyst, BTC is progressing towards a peak in the bull market during the fall or winter in the following year.
“In the previous 2015-2017 cycle, Bitcoin reached its peak 518 days after the Halving event. Similarly, in the 2019-2021 cycle, it took 546 days to reach its peak after the Halving.”
“If historical patterns repeat, we can anticipate that the next Bull Market peak will occur within 518-546 days after the Halving event. This would suggest that Bitcoin might reach its peak in this cycle around mid-September or mid-October 2025.”
Currently, Bitcoin’s progress in this cycle is accelerating at a pace of approximately 200 days.
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“So, the longer Bitcoin consolidates following the Halving, the more advantageous it will be to align this ongoing cycle with the traditional Halving cycle.”
BTC is currently valued at $65,842, indicating a 7% increase over the past seven days.
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