Bitcoin will initiate a ‘new bull market’ in just one week – here’s how
- Shams ul Zoha
- March 27, 2023
- 10:59 pm
WHAT YOU SHOULD KNOW
- “Rekt Capital” predicts a new macro uptrend for Bitcoin.
- The monthly candle will close above the macro downtrend on April 1.
- Bitcoin is poised to break out to new all-time highs following the recent bear market.
A crypto analyst who goes by the pseudonym “Rekt Capital” has predicted that Bitcoin will begin a new macro uptrend within a few days. The analyst stated that the monthly candle of Bitcoin will close above the macro downtrend on April 1, confirming a new bull market.
The analyst’s chart compares Bitcoin’s price behavior in 2023 to previous cryptocurrency cycles and suggests that Bitcoin is ready to break out to new all-time highs following the recent bear market. However, the analyst also warned that if Bitcoin fails to break the $28,700 resistance level, it may need to experience a healthy dip to generate fresh buyer interest at lower price points.
Despite showing some short-term technical weakness, Bitcoin was trading at $27,801, up 1.08% in the last 24 hours.
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