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Fake Crash? – Crypto Analyst Claims BTC Is Poised to Defy Downtrend After Showing Stability

A widely followed cryptocurrency analyst believes that Bitcoin (BTC) could be on the verge of stabilizing after a sizable correction.

Pseudonymous cryptocurrency trader Rekt Capital tells his 482,500 followers on social media platform X that BTC is showing positive signs of life after its most recent drop.

“Bitcoin is showing some initial signs of stability after the fall

And in doing so, it moves ever closer to the downtrend (light blue).

This downtrend will be challenged if bullish divergence develops.”

Source: Rekt Capital/X

According to the analyst, the falling BTC price is now showing signs of finding support near the $57,000 mark.

“Bitcoin has managed to reclaim the purple level as support, despite the false drop.”

Source: Rekt Capital/X

Finally, the analyst notes that BTC’s latest pullback is the second deepest of this bull run so far.

“This setback is not only the deepest of the cycle so far

But it is also officially the second longest pullback of the cycle (49 days).”

Source: Rekt Capital/X

At the time of writing, BTC is worth $57,480, up 3% on the day.

Last week, Rekt Capital suggested that traders may have to wait until next fall before BTC reaches the peak of its bull cycle.

“In the 2015-2017 cycle, Bitcoin peaked 518 days after the halving. In the 2019-2021 cycle, Bitcoin peaked 546 days after the halving.

If history repeats itself and the next bull market peak occurs 518-546 days after the halving… That would mean Bitcoin could peak in this cycle in mid-September or mid-October 2025.”

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Disclaimer: The opinions expressed on The Daily Hodl do not constitute investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrencies, or digital assets. Please note that your transfers and transactions are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the purchase or sale of any cryptocurrency or digital asset, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

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