Bitcoin Entering Phase of Parabolic Expansion After Successfully Breaking Downtrend: Crypto Analyst
A closely followed crypto analyst says that Bitcoin (BTC) has successfully broken a downtrend with strong price action.
The pseudonymous analyst known as Rekt Capital tells his 543,000 followers on the social media platform X that BTC has successfully broken a diagonal resistance and flipped it into support after staying above $85,000.
“Bitcoin hasn’t just broken the Downtrend and successfully retested it as support for the first time since Downtrend formation
But Bitcoin has also been able to sustainably maintain above the Downtrend for a period of several consecutive days now.”
Rekt Capital also says that BTC is likely in the first corrective stage of the “Banana zone,” or a phase of…
