Crypto Analyst Says Bitcoin Bear Market ‘Closer and Closer’ To End, Breaks Down Cardano and Two Other Altcoins

A widely watched cryptocurrency analyst has set a timeline for the end of the Bitcoin (BTC) bear market.

Pseudonym Analyst Rekt Capital update 329,600 followers in the current BTC bear market timeline compared to last year’s bull market.

“It has been almost 400 days since the BTC bull market peaked at $69,000.

This means that this bear market is nearing its end.

Historically, BTC bear markets find absolute bottoms about 365 days after the previous bull market peak. “

BTC is trading at $16,831 at the time of writing, Rekt Capital draw A line in the sand of major cryptos by market cap.

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

A monthly close below $17,150 could further confirm this level as resistance and push BTC back to $15,400 lows.

Another retest to $15,400 may not hold, especially after the weak reaction since November. ”

Source: Rekt Capital/Twitter

Next, analysts turn their attention to Ethereum (ETH) rival Cardano (ADA). Unfortunately for ADA holders, Rekt Capital Foresight Further issues with smart contract platforms.

“A further decline is possible for the ADA as there is no major support below for some time

ADA’s next major support is $0.15

This is a 40% drop from the current price. “

After Rect Capital appear Monero (XMR) is a cryptocurrency specially designed to make transactions untraceable.

“For about 1.5 years prior to distribution, the highest values ​​were in the black range

XMR then changed the range low to a new resistor and confirmed the failure

Still getting rejected here, XMR may revisit the past cumulative range (green). “

Source: Rekt Capital/Twitter

Finally, Rekt Capital analyzed the Basic Attention Token (BAT) and found that the privacy browser token was may drop at the price of early next year.

“We are currently challenging a multi-year green Higher Low (HL) support.

Historically, Quarterwick below the HL preceded the bottom.

If Bht3m closes above the Green HL by the end of the year, there could be a downside in Q1 2023. “

Source: Rekt Capital/Twitter

Don’t Miss a Beat – Subscribe to get encrypted email alerts delivered straight to your inbox

Price action confirmation

Please follow us twitter, Facebook When telegram

Surf The Daily Hodl Mix

Check out the latest news headlines


Disclaimer: Opinions expressed on The Daily Hodl are not investment advice. Investors should exercise caution before making risky investments in Bitcoin, cryptocurrencies or digital assets. Please note that your money transfers and transactions are made at your own risk and you are responsible for any losses you may incur. The Daily Hodl does not endorse the buying or selling of cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. The Daily Hodl participates in affiliate marketing.

Featured Image: Shutterstock/Sensvector/world01

Leave a Reply

Your email address will not be published. Required fields are marked *