As business continues as usual for bitcoin bulls out of business hours on Sunday, price losses are calming down. The leading crypto is preparing for its lowest weekly close ever today, after a week of disappointing losses.
Bitcoin gives people a second chance, according to Rekt Capital
Data from TradingView shows that BTC circles $42.a700 on Sunday, with a few hours left before the weekly candle is completed. BTC fell towards the end of Wall Street trading on Friday, torn between some tension and calm over the weekend with the $42,000 support intact.
For popular crypto trader and analyst Rekt Capital, there is still reason for optimism despite the fact that the BTC price has seen losses of around 10% over the past seven days. The analyst shared:
This BTC pullback is a second chance for many people. If you promised yourself that you would buy BTC when it went down and vowed not to miss the next uptrend, do yourself a favor. And take your own advice.
Rekt Capital is one of the three key moving averages currently tested as support. He underlines and states that historically, the bounce from them precedes ‘strong bullish momentum’. The analyst said on Saturday that, technically speaking, anything above ~$38,000 is a macro ‘High Low’ for Bitcoin.
Macro pressure set the background for gloomy weather throughout the week, as we reported on Cryptokoin.com, and concerns over the strength of the US dollar continued throughout the day. Michaël van de Poppe, another popular crypto analyst, likewise takes a more hopeful perspective, saying, “As soon as DXY hits its peak (which could be soon), the next bull run will begin.”
BTC whale Luna Foundation Guard continued its BTC purchases
Blockchain protocol Terra, which has become a constant source of optimism, continued its Bitcoin (BTC) purchases on Sunday, and the related non-profit Luna Foundation Guard (LFG) added 4,130 BTC to his wallet. According to on-chain tracking resource BitInfoCharts, the issued wallet has a balance of 39,897.98 BTC ($1.7 billion), making it the 19th largest wallet among existing wallets.
LFG Bitcoin wallet data summary (screenshot) / Source: BitInfoCharts 
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