{"id":167697,"date":"2023-10-04T02:48:17","date_gmt":"2023-10-03T21:18:17","guid":{"rendered":"https:\/\/dripp.zone\/news\/?p=167697"},"modified":"2023-10-04T02:48:17","modified_gmt":"2023-10-03T21:18:17","slug":"trader-warns-bitcoin-reversal-likely-based-on-historical-precedent-updates-outlook-on-chainlink-crypto-news","status":"publish","type":"post","link":"https:\/\/dripp.zone\/news\/trader-warns-bitcoin-reversal-likely-based-on-historical-precedent-updates-outlook-on-chainlink-crypto-news\/","title":{"rendered":"Trader Warns Bitcoin Reversal Likely Based on Historical Precedent, Updates Outlook on Chainlink – Crypto News"},"content":{"rendered":"

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A widely followed crypto analyst says Bitcoin (BTC<\/a>) may be on the verge of a final leg to the downside.<\/p>\n

Crypto trader Rekt Capital\u00a0tells<\/a>\u00a0his 355,900 followers on the social media platform X that BTC is about to test its bull market support band.<\/p>\n

\u201cBitcoin is now trying to retest the bull market support band as support.<\/em><\/p>\n

If successful, Bitcoin will likely revisit the lower high resistance again (blue).<\/em><\/p>\n

But if history is any indication, BTC shouldn\u2019t be able to hold above the EMAs (exponential moving averages) for too long.\u201d<\/em><\/p>\n

Source: Rekt Capital\/X<\/figcaption><\/figure>\n

According to the analyst, BTC could\u00a0potentially peak<\/a>\u00a0in the fall of 2025.<\/p>\n

\u201cIf history repeats itself\u2026<\/em><\/p>\n

Next bull market peak could occur 518-546 days after the halving.<\/em><\/p>\n

That\u2019s mid-September 2025 or mid-October 2025.\u201d<\/em><\/p>\n

\"\"
Source: Rekt Capital\/X<\/figcaption><\/figure>\n

In the midst of his predictions, Rekt Capital\u00a0points out<\/a>\u00a0that any immediate downtrend could represent last-chance opportunities for BTC traders in the long game.<\/p>\n

\u201cIf you think about it\u2026<\/em><\/p>\n

The next 140 days may present the last EVER opportunity to buy in the low or even sub-$20,000s\u201d<\/em><\/p>\n

\"\"
Source: Rekt Capital\/X<\/figcaption><\/figure>\n

BTC is worth $27,383 at time of writing, down 2.7% in the last 24 hours.<\/p>\n

Touching on blockchain oracle Chainlink (LINK<\/a>), Rekt Capital foresees<\/a> LINK\u2019s price moving up after some chop.<\/p>\n

\u201cThe macro downtrend is over. <\/em>But the macro range is not. <\/em>If Chainlink can\u2019t break the range high resistance soon\u2026 <\/em><\/p>\n

Continued consolidation inside the macro range is likely, w<\/em>hich could enable a retest of the broken macro downtrend itself.\u201d<\/em><\/p>\n

\"\"
Source: Rekt Capital\/X<\/figcaption><\/figure>\n

LINK is worth $7.45 at time of writing, down 3.5% in the last 24 hours.<\/p>\n

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Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.<\/h6>\n<\/div>\n

Generated Image: Midjourney<\/em><\/span><\/p>\n<\/p><\/div>\n","protected":false},"excerpt":{"rendered":"

A widely followed crypto analyst says Bitcoin (BTC) may be on the verge of a final leg to the downside. Crypto trader Rekt Capital\u00a0tells\u00a0his 355,900 followers on the social media platform X that BTC is about to test its bull market support band. \u201cBitcoin is now trying to retest the bull market support band as […]<\/p>\n","protected":false},"author":2,"featured_media":167698,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[173],"tags":[201,248,251,246,257,255,250,252,247,253,249,256,254],"class_list":["post-167697","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-others","tag-blockchain","tag-bsc","tag-chainlink","tag-coin","tag-cryptocurrency","tag-gta","tag-looks-rare","tag-oracle","tag-polygon","tag-quickswap","tag-safe-moon","tag-wallet","tag-wordpress"],"_links":{"self":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/167697","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/comments?post=167697"}],"version-history":[{"count":2,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/167697\/revisions"}],"predecessor-version":[{"id":167700,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/167697\/revisions\/167700"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media\/167698"}],"wp:attachment":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media?parent=167697"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/categories?post=167697"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/tags?post=167697"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}