Crypto analyst who regularly updates their views on Bitcoin (BTC) and artificial intelligence (AI) altcoin Fetch.ai (FET).
This crypto broker is called Rekt Capital telling their 332,200 Twitter followers and Bitcoin is on the verge of supporting the bull market after rallying this week.
However, they be warned it can take months to break a bear market line and it doesn’t control the price before then.
“BTC has been trying to break the downtrend line for several months on a weekly basis. A weekly close above the trend line shows that it has emerged. But the most important trend line to break to support a new bull market is a large downtrend on a monthly interval.
BTC is in a period of change. It marks the end of a bear market and a new bull market begins. This process may take several months and may not completely eliminate new disorders. But it’s good to see that there is light at the end of the tunnel.
A merchant too away and Bitcoin’s Relative Strength Index (RSI), a measure of momentum, as an indicator that the crypto king is showing bullishness. The analyst says that the RSI should rise past the bear market and the RSI is below the bottom to confirm the uptrend.
“The monthly BTC RSI is also moving down from its channel. To support the bullish trend, the BTC RSI should return to the bearish trading zone.” Color Color Color Color Color Color Color Color Color Color Color Color Color Color Color Color Color Color Color Color Color Color Color Color Color Color Color Color Color Color paint color painted painted painted painted painted painted painted painted painted painted painted painted painted painted painted painted painted painted painted painted painted painted painted painted painted painted painted painted painted painted painted painted painted painted painted painted painted painted painted painted painted painted
Rekt Capital also has said Another market indicator to watch is whether Bitcoin can exceed the reasonable price level of $20,000, which acted as support for most of the past year. They say that $20,000 can act as resistance during this session. At the time of writing, Bitcoin is changing hands at $19,287.
“BTC is slowly approaching the psychological level of $ 20,000 $ 20,000 acted as multi-month support for most of 2022 and may soon act as resistance. Macro-wise, BTC is between $13,900-$19,500 per month (light blue).”
Consider Fetch.ai, a crypto broker said The cryptocurrency blockchain project is set to maintain a high support level at $0.262 after a rally in the broader crypto market.
“FET follows the green path and eventually reaches the blue stability. Now we are waiting for confirmation whether the FET can turn the blue level into support or if the price needs to add health and -red next.”
At the time of writing, Fetch.ai is valued at $0.245.
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