Known for its successful analysis, Rekt Capital bitcoin He shared his predictions for 2023, stating that a difficult year has been left behind for the company.
Sharing his views on his Twitter account, Rekt Capital shared its hopes for the new year after a 2022 year dominated by bears.
2022 is over with challenges for Bitcoin investors. We’ve had non-stop outages. There were areas that allowed us to relax, albeit partially, but it was very challenging emotionally. Despite everything, I think 2023 will be different. Of course, things won’t be that easy. The patience of some investors will be tested, while others will succumb to the market.
Sharing Bitcoin price movements since 2014, the analyst drew attention to “macro triangles”. Rekt CapitalAccording to analysis by BTC, it offers “historical data” that indicates a trend reversal.
According to the three macro triangles seen in the past bitcoin price With the break of the triangle, it loses value between 50-65%. Since the triangle is broken, the value has dropped by 50%. We can say that BTC moves according to the historical model.
Looking closely at the analyst’s chart, it can be seen that they have targets around $16,700 and $16,800. The analyst has marked $11,795 in case of a decline.
Beware of Bitcoin Domination
Examining the Bitcoin dominance chart (BTC.D), Rekt Capital stated that the metric is on the rise.
We can see the first signs of BTC Domination successfully retesting the blue level as support. Altcoins, on the other hand, are recording partial depreciation. I expect these withdrawals to continue.
