A Crypto analyst closely followed that Bitcoin (BTC) has successfully broken a decrease with a strong price action.
The pseudonym who is known as Rekt Capital tells his 543,000 followers on the social media platform X that BTC has successfully broken a diagonal resistance and turned it in support after a stay above $ 85,000.
“Bitcoin has not only broken the downtrend and successfully tested it again as support for the first time since the Downtrend formation
But Bitcoin has now also been able to maintain sustainably above the downward trend for a period of various consecutive days. “
Also stretches capital out That BTC is probably in the first corrective phase of the ‘banana zone’, or a phase of parabolic expansion for Bitcoin after breaking the highlights of the last cycle.
The analyst suggests that BTC will soon rise to new all-time highlights before entering a new corrective phase and a final launch of his peak from the Bullmarkt.
“Technically, we should see parabolic advantage, but instead we get it [consolidation]. The ‘banana zone’ is a determination period for the parabolic phase of the cycle when it comes to the Bitcoin price action when it goes beyond old all-time highlights in new all-time highlights.
What happens with the price action of Bitcoin when it breaks to new all -time highs, yes, we see a parabolic Ascension for those new heights of all time, but sometimes it can also get a bit bumpy, so it is also once we have to come in the whole time, so it is once too
What that means is that we will see extra benefits, so that brings us to the corrective phase two. We tend to see at least two corrective periods in price discovery. ”
At the time of writing, BTC acts at $ 87,523.
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