Although Bitcoin is traded about 21 %below the highest level of all time, it maintains its rise potential. Popular crypto currency analyst Rekt Capital says that the current correction is a temporary deviation and will not affect the long -term trend. Addressing 108,000 Youtube followers, Analyst stressed that such retreats are in the nature of paraboolic movements. Bitcoin is traded at $ 83,773 at the time of writing. The current price movement contains similar structures compared to past loops.
“Banana Region” and short -term deviation
Rekt Capital describes the correction as a “Banana Region .. With this term, he explains that the price movement is temporarily out of the rise channel. According to the analyst, such deviations are a preliminary preparation for the continuation of the rise trend. He argues that such volatility, especially before the strong rally, should be considered as usual in terms of market psychology.
“This is a short -term deviation in the Banana region; it will point to the additional rise trend in the Banana region,” Analyst supported the rise scenario. This interpretation brings the opinion that the current correction should not panic. According to the analyst, this process is an opportunity for long -term investors.
Rekt Capital drew attention to similar cycles in the past years. In 2013 and 2017, more powerful rally was observed after short -term corrections.
Price Discovery stage before the new summit
The analyst states that after the current correction, “Second Expansion” and “Price Discovery” process will be entered. In this period, prices may progress wavy, but the main direction is expected to be up. Before the new summits are reached, the consolidated market is an inevitable stage according to the analyst.
Rekt Capital proposes to investors to be patient by comparing this process with the past. Especially in past cycles, the record levels have been reached after the correction stages. This view, which is based on technical analysis, is strengthened by data supporting market psychology.
Emphasizing that this period should be watched carefully for investors, the analyst underlines that it should be prepared against market volatility. Rect Capital’s assessments focus on historical data analysis and the psychological effects of price movements.
Responsibility Rejection: The information contained in this article does not contain investment advice. Investors should be aware that crypto currencies carry high volatility and thus risk and carry out their operations in line with their own research.
