A popular crypto analyst, known as Rekt Capital, believes Bitcoin might be close to a rebound. He says the recent intense selling pressure in the crypto market is likely to run out of steam soon.
Seller Exhaustion on the Horizon
Rekt Capital, who correctly predicted a Bitcoin correction before the halving, says the high volume of selling could be a sign that the market is nearing a bottom. He’s watching for large sell-side volume bars on the charts, which he says often signal a bounce or even a complete trend reversal.
Bitcoin Still in a Bull Market
Despite the recent price dip, Rekt Capital remains optimistic about Bitcoin’s long-term prospects. He believes Bitcoin is still in a bull market, which could last for another year.
What to Watch For
Rekt Capital is looking for a large enough sell-side volume bar on Bitcoin’s daily chart to confirm seller exhaustion. He believes this could trigger a price reversal and push Bitcoin higher.
Disclaimer: This information is not financial advice. Always do your own research before investing in cryptocurrencies.
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