Recently, a professional trader recognized for his generally accurate forecasts, claimed that bitcoin (BTC) is slowly approaching a zone that will be particularly favorable to investors. According to him, the price zone that the cryptocurrency is approaching will present a very favorable risk-reward ratio for people who make long-term investments..
things will change
Professional trader Rekt Capital has a total of 320,900 Twitter followers. This is to say how popular it is and how much it exerts a great influence on investors. He said that currently the king of cryptocurrencies continues to trading below the moving average (MA) of 200 weeks.
“Historically, the 200-week MA has featured as a bottom indicator for BTC. In this cycle, things might be a little different. Instead of bottoming out at the 200-week MA, BTC could form a macroeconomic range below this one. Anything below the 200 week MA will likely represent a peak opportunity “.
Concretely, to sum up the thinking of Rekt Capital, the time has come for investors to make the most profit thanks to the evolution of the king of cryptocurrencies. The rewards will be maximum, he warned.
Bitcoin’s downtrend will end
Continuing his theory that BTC will soon increase in value, RektCapital wrote: “Throughout its history, BTC has always deviated lower below the 200-week moving average, but what will happen this time around? […] BTC’s recovery may take longer, but it is still a downside deviation.” He concludes that from great financial opportunities are to come.
Rekt Capital also stated that if BTC still remains in a strong downtrend, soon this trend will see a conclusion. And so, what will happen next? According to him, this “will open the door to a new bullish cycle “. “BTC may very well still be in the acceleration phase of the downtrend, but this phase will precede the multi-month consolidation phase, which will precede the new macro uptrend phase,” wrote the expert.
Even though at the time of writing, BTC is trading at around $19,199 and the downtrend continues, a professional trader believes things will change. According to him, the digital asset will soon resume its bullish trend to reach high prices.
Source: The Daily Hodl
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