Although the crypto money market rises from the new, it is difficult to maintain this acceleration. Bitcoin has managed to recover up to 85 thousand dollars after declining up to the critical resistance to 80 thousand dollars. However, it remains unclear whether it can maintain this ascension acceleration. A crypto analyst, which accurately foresees Bitcoin’s pre -Halving correction last year, explains what BTC has to regain the bull trend.
” This will trigger the rise movement of Bitcoin (BTC)! ”
Kriptokoin.comAs you have followed, the crypto market is locked in US President Donald Trump’s tariff statements on April 2. In the midst of this waiting, the crypto analyst called Rek Capital Plugs, Bitcoin reflects the price movement in 2021. During this period, the BTC was consolidated between two important mobile average (EMA) in the weekly graph.
According to the analyst, Bitcoin needs to turn 21 -week EMA into support to trigger the start of the rise movement. In this context, the analyst makes the following statement:
At the beginning of this week, Bitcoin was rejected in 21 -week EMA resistance (green). As a result, Bitcoin continues to be consolidated among these two bull market EMA, as in the middle of 2021. However, the basic approval signal for a break in the future will be the re -testing of new support (light blue circle) after a week of closing on the Green EMA and then after breakage.
Source: Rek CapitalWhen will the real Altcoin season begin?
The analyst also looks at the Altcoin market. Rect Capital expects Altcoins to continue to perform lower than Bitcoin based on the BTC domination (BTC.D) graph, which follows how much of the total crypto market value belongs to the leading crypto money.
According to Rekt Capital, BTC.D can reach a significant level of resistance that remains intact since 2017 before losing speed. When this happens, the analyst predicts that a real Altcoin season will begin. Analyst explains his views on this subject as follows:
BTC domination: If the date repeats, the real Altcoin season that everyone expects will begin when Bitcoin dominance is rejected from 71 %(red).
Source: Rek CapitalThe BTC.D graph with a decrease tendency shows that subcoins gain faster than Bitcoin. Meanwhile, during the article, BTC.D was at 62.26 %.
