A widely followed crypto analyst says Bitcoin (BTC) may be on the verge of a final leg to the downside.
Crypto trader Rekt Capital tells his 355,900 followers on the social media platform X that BTC is about to test its bull market support band, which is a cluster of moving averages on the weekly chart.
“Bitcoin is now trying to retest the bull market support band as support.
If successful, Bitcoin will likely revisit the lower high resistance again (blue).
But if history is any indication, BTC shouldn’t be able to hold above the EMAs (exponential moving averages) for too long.”
According to the analyst, BTC could potentially peak in Q3 or Q4 of 2025.
“If history repeats itself…
The next bull market peak could occur 518-546 days after the halving.
That’s mid-September 2025 or mid-October 2025.”
In the midst of his predictions, Rekt Capital points out that any immediate downtrend could represent last-chance opportunities for BTC traders in the long game.
“If you think about it…
The next 140 days may present the last EVER opportunity to buy in the low or even sub-$20,000s”
BTC is worth $27,383 at time of writing, down 2.7% in the last 24 hours.
Touching on blockchain oracle Chainlink (LINK), Rekt Capital foresees LINK’s price moving up after some chop.
“The macro downtrend is over. But the macro range is not. If Chainlink can’t break the range high resistance soon…
Continued consolidation inside the macro range is likely, which could enable a retest of the broken macro downtrend itself.”
LINK is worth $7.45 at time of writing, down 3.5% in the last 24 hours.
Don’t Miss a Beat – Subscribe to get email alerts delivered directly to your inbox
Check Price Action
Follow us on Twitter, Facebook and Telegram
Surf The Daily Hodl Mix
 
Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
Generated Image: Midjourney
The post Trader Warns Bitcoin Reversal Likely Based on Historical Precedent, Updates Outlook on Chainlink appeared first on The Daily Hodl.