Cryptocurrency Rekt Capital, one of the most well-known analysts in the market, in its latest analysis bitcoin And Ethereum He expressed his thoughts on prices.
Rekt Capital Evaluates Bitcoin Price
According to Rekt Capital, the Bitcoin price repeated the downward wick it experienced in March 2020 and fell below its 200 moving average on the weekly chart. BTC price diverged by approximately 28%, falling to $15,500.
Bitcoin price surged more than 60% after the drop and currently the 200 moving average is acting as a resistance. At the time of this writing, this level corresponds to the level of 24,774.
According to the analyst’s statement, if the BTC price can turn this level to the support point, an upside rally may begin.
The analyst also talked about the Bitcoin dominance chart. In the chart he shared, he stated that a rise above the 44.39% resistance is always a possibility, and he also reminded that BTC dominance closed a month above this level.
BTC dominance, which was at the level of 44.37% at the time of this writing, can be prepared for the next move if it can turn the level of 44.39% to support, according to the analyst.
Speaking about Ethereum, Rekt Capital said that the price of ETH broke the monthly downtrend, which has been going on for months, and claimed that with the break of this trend, an uptrend that will last for many months can start again.
*Not investment advice.
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