Popular Crypto Analyst Pins Windows For Bitcoin (BTC) Below, Claims Ethereum (ETH) Faces Resistance
A popular crypto trader is looking at Bitcoin’s (BTC) historical bull markets to open a window for the bear market bottom.
Pseudonymous digital asset analyst Rekt Capital tells his 329,000 Twitter followers that it has been over 300 days since BTC peaked in November 2021.
“When BTC peaked in the 2013 bull market, it took BTC 413 days to bottom.
When BTC peaked in 2017, it took BTC 364 days to bottom.
333 days have passed since the peak in November 2021.
These numbers suggest that a BTC bottom should happen in the next 1-3 months.”
Digging the charts, Rekt Capital claims that the king crypto is currently at a sustained resistance level.
“BTC is right back at this multi-month resistance.”
Source: rectcapital/Twitter
Bitcoin is trading at exactly $20,000 at the time of writing. The largest cryptocurrency by market cap is down 71% from its November 2021 all-time high of $69,000.
Rekt Capital also looks at the leading smart contract platform and second largest crypto by market cap, Ethereum (ETH). Just like BTC, Rekt currently sees Ethereum at a crossroads of resistance.
“The blue circle shows that ETH is at the orange resistance, which previously acted as strong support
If ETH is able to reclaim the top of the orange box as support, a move to the black lower high could be on the cards
Until then, ETH will resist.”
ETH is trading for $1,360 at the time of writing, down 72% from its November 2021 all-time high of $4,878.
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