According to a prominent crypto trader, Bitcoin is entering a price zone that might provide BTC investors an extremely favourable risk-to-reward ratio.
Rekt Capital, a pseudonymous cryptocurrency strategist, informs his 320,900 Twitter followers that this cycle may be different for Bitcoin (BTC) as the king cryptocurrency continues to trade below the 200-week moving average (MA), an indicator that has previously signalled the bottom for the leading digital asset.
“Things may be a little different this cycle. Instead of Bitcoin bottoming at the 200-week moving average, it may develop a broad trading range below it. Anything below the 200-week moving average would likely indicate the highest level of potential.”
According to the crypto expert, Bitcoin is expected to experience seller tiredness as it trades below the 200-week moving average, which, according to Rekt Capital, may ultimately put long-term investors in a position to purchase BTC at a price level that provides the greatest potential returns.
BTC has reached unprecedented levels of overselling. This excessive overselling will eventually coincide with the time of greatest income potential.”
Bitcoin is now in a significant slump, according to Rekt Capital, but this trend will ultimately cease, which will pave the way for a new bull cycle.
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