A famous analyst, known for his Bitcoin and altcoin analysis in the cryptocurrency world, shares important details from the Rekt Capital X platform. According to the analyst, we are still at the very beginning of the bull process regarding Bitcoin and cryptocurrencies. That’s why he uses the phrase “We’ve just started.” Let’s look at the details.
We just started for Bitcoin and altcoin LINK
Analyst Rekt Capital states that they have just started the Bitcoin bull process. Accordingly, as can be seen in his post below, he states that we are still at the 25% level.
#BTC Bull Market Progress:
▓▓░░░░░░░░ 25.0%$BTC #Crypto #Bitcoin pic.twitter.com/orFPi0W1dk
— Rekt Capital (@rektcapital) October 2, 2023
On the other hand, the analyst also includes a bearish fractal view for Bitcoin. Accordingly, it indicates that in case of a decrease, BTC will reach the levels of 23,500 and 20,500 dollars.
Bearish Bitcoin Fractal update$BTC #Crypto #Bitcoin https://t.co/4H3OMiDzFB pic.twitter.com/thQAVYhPzC
— Rekt Capital (@rektcapital) October 2, 2023
BTC is at low resistance
Analyst Rekt Capital notes that Bitcoin BTC has now reached lower high resistance. The analyst states that Bitcoin also formed a lower high at this point in the cycle in 2019. Therefore, according to the analyst, the next 140 days will be very important for Bitcoin. Because if a deeper retreat was to occur, these levels had to be reached before that. The next level is 22 thousand dollars, as can be seen from the chart.
Bitcoin has now rallied to its Lower High resistance
At this point in the cycle in 2019, Bitcoin also formed a Lower High
These next 140 days will be crucial for Bitcoin
Because if a deeper retrace is to occur – orange will be the time to do it$BTC #Crypto #Bitcoin pic.twitter.com/zSm1HLPbzZ
— Rekt Capital (@rektcapital) October 2, 2023
According to the analyst, Bitcoin needs to move higher to completely invalidate this Bearish Fractal. It will also need to break the high on the lower plane. The analyst also points out that Bitcoin has moved beyond the Bullish Market Support Band cluster of moving averages.
Bitcoin needs to rally higher & break its Lower High to completely invalidate this Bearish Bitcoin Fractal$BTC #Crypto #bitcoin pic.twitter.com/OaqFdI1RWj
— Rekt Capital (@rektcapital) October 2, 2023
Bitcoin has broken beyond the Bull Market Support Band cluster of moving averages$BTC #Crypto #Bitcoin pic.twitter.com/EqwrSSCKKc
— Rekt Capital (@rektcapital) October 2, 2023
Important assessment from the analyst for altcoin LINK
Besides Bitcoin BTC, analyst Rekt Capital also looks at the altcoin LINK. At this point, the analyst’s evaluation of LINK attracts attention. Accordingly, the analyst sharing the LINK chart points out that this is the highest monthly candle closing for Chainlink in the last 17 months.
This is the highest Monthly Candle Close of the past 17 months for Chainlink#LINK #Crypto #Chainlink pic.twitter.com/7GwZMI5KNo
— Rekt Capital (@rektcapital) October 2, 2023
The analyst also has good news for the altcoin LINK, in addition to his emphasis on Bitcoin. This good news is especially valuable for LINK investors. According to the analyst, Chainlink closed the weekly candle above the macro downtrend. Based on this, Anaslit shares good news and states that the macro downtrend has officially ended.
Revival in Bitcoin and altcoins
As we enter October, we see that the historical period of October, November and December indicates significant increases for Bitcoin.
Ekim, Kasım ve Aralık, tarihsel olarak #Bitcoin için en iyi aylar. pic.twitter.com/ZH23kCn8vI
— drmesutinan (@dr_minan) October 2, 2023
Now everyone is wondering where the next process will go for BTC, which has made a strong start to October. If the process works well for Bitcoin, when we look at it as cryptokoin.com, the figures of 40 thousand dollars are now in place by the end of the year.
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