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‘Fake Breakdown’? – Crypto Analyst Says BTC About to Challenge Downtrend After Showing Stability

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A broadly adopted crypto analyst thinks Bitcoin (BTC) may very well be on the verge of stabilizing after a sizeable correction.

Pseudonymous crypto dealer Rekt Capital tells his 482,500 followers on the social media platform X that BTC is exhibiting constructive indicators of life after its most up-to-date drop.

“Bitcoin is showcasing some preliminary indicators of stability after the crash

And in doing so, it’s creeping nearer to the Downtrend (mild blue)

This Downtrend will probably be challenged if the Bullish Divergence performs out.”

Supply: Rekt Capital/X

Based on the analyst, BTC’s value breakdown is now exhibiting indicators that it’s discovering assist close to the $57,000 mark.

“Bitcoin has managed to reclaim the purple stage as assist, regardless of the fake-breakdown.”

Supply: Rekt Capital/X

Lastly, the analyst factors out that BTC’s newest pullback is the second deepest of this bull run up to now.

“This retrace isn’t just the deepest within the cycle so far

However it’s formally the second-longest retrace within the cycle as properly (49 days).”

Supply: Rekt Capital/X

BTC is value $57,480 at time of writing, up 3% on the day.

Final week, Rekt Capital steered that merchants may have to attend until subsequent fall earlier than BTC reaches its bull cycle peak.

“Within the 2015-2017 cycle, Bitcoin peaked 518 days after the halving. Within the 2019-2021 cycle, Bitcoin peaked 546 days after the halving.

If historical past repeats and the subsequent bull market peak happens 518-546 days after the halving… That may imply Bitcoin may peak on this cycle in mid-September or mid-October 2025.”

Generated Picture: Midjourney

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