Crypto analyst Rekt Capital indicates that Bitcoin may enter a short-term consolidation phase before reaching its all-time highs.
Bitcoin's Consolidation Phase
The analyst highlights the importance of establishing support levels after Bitcoin's initial upward trend. Maintaining these levels could facilitate a strong resurgence in Bitcoin’s price.
Technical Levels and Resistance
Rekt Capital notes a stagnant trend in Bitcoin’s technical chart, where preserving current support levels could boost upward momentum. The level at $97,700 is highlighted as a strong resistance point.
Bull Market Dynamics and Projections
The analyst believes that the current bull market could continue until the year's end, with the peak predicted for 2025. A new downward trend is expected to begin in 2026, lasting around 365 days with a decline between 65% and 80%.
Understanding technical levels and observing market movements can aid investors in making informed decisions.
