Rally

bullish

Bitcoin

Rekt

<p style="text-align: justify">You can also read this news on BH NEWS: <a href="https://en.bitcoinhaber.net/analyst-foresees-bitcoin-market-rally" data-wpel-link="internal" rel="noopener noreferrer nofollow">Analyst Foresees Bitcoin Market Rally</a><br></p>
<p style="text-align: justify">An analyst, known as Rekt Capital, has shared insights suggesting a potential recovery or a lasting trend reversal in the <a href="https://en.bitcoinhaber.net/anonim-kripto-analistlerine-gore-bitcoin-yukselise-gecebilir" data-wpel-link="internal" rel="noopener noreferrer nofollow">Bitcoin</a> and cryptocurrency markets. Communicating with his 499,300 followers on the social media platform X, he highlighted recent significant selling pressures faced by Bitcoin and other crypto assets.</p>
<h2 id="the-end-of-selling-pressure-approaches">The End of Selling Pressure Approaches</h2>
<p style="text-align: justify">Rekt Capital believes that the current downward trend is unsustainable, hinting at an imminent bullish phase for the crypto market. He remarked on the market’s strong recent sell-off, suggesting that seller exhaustion is likely to occur soon.</p>
<p style="text-align: justify">The analyst pointed out that observing high selling volume bars is crucial in the short term. These volume bars often signal a market bottom after consistent selling, paving the way for a robust rebound or a complete trend reversal.</p>
<h2 id="signs-of-seller-exhaustion-in-charts">Signs of Seller Exhaustion in Charts</h2>
<p style="text-align: justify">A closer inspection of the Bitcoin chart reveals a significant volume bar on the daily chart, which Rekt Capital identifies as an indicator of seller exhaustion. He noted that Bitcoin’s selling volume needs to hit a specific level to trigger an upward price reversal.</p>
<p style="text-align: justify">Currently, this volume has not yet reached the levels seen in previous upward price reversals, suggesting that a turning point is near.</p>
<h2 id="concrete-conclusions">Concrete Conclusions</h2>
<p style="text-align: justify">Based on Rekt Capital’s analysis, several key conclusions can be drawn:</p>
<ul>
 <li>Bitcoin might soon reach a point of seller exhaustion, leading to a price recovery.</li>
 <li>High selling volume bars should be monitored as indicators of market bottoming.</li>
 <li>In the long run, Bitcoin is likely to remain in a <a href="https://finance.coin-turk.com/" rel="noopener noreferrer nofollow" target="_blank" data-wpel-link="exclude">bull market</a>.</li>
</ul>
<p style="text-align: justify">Despite the ongoing price correction, Rekt Capital maintains that Bitcoin is in a long-term bull market. He mentioned that historical patterns suggest Bitcoin could continue in this bull phase for up to another year. At the time of writing, Bitcoin’s price stands at $55,102. The analyst’s observations underscore potential recovery scenarios or a lasting trend change in the crypto market.</p>
<h5><span style="font-weight:bold;font-size:16px">Continue Reading: </span> <a href="https://en.bitcoinhaber.net/analyst-foresees-bitcoin-market-rally" data-wpel-link="internal" rel="noopener noreferrer nofollow">Analyst Foresees Bitcoin Market Rally</a></h5>

Analyst Foresees Bitcoin Market Rally

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