bullish

Bull Market

Bitcoin

Rekt (rektarb.xyz)

Rekt

You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/analyst-predicts-potential-bitcoin-market-recovery/" data-wpel-link="internal" rel="noopener noreferrer nofollow">Analyst Predicts Potential Bitcoin Market Recovery</a> 
An analyst foresees either a recovery or a permanent trend reversal in the Bitcoin and <a href="https://en.coin-turk.com/ftx-files-lawsuit-against-bybit-to-recover-953-million-in-assets/" data-wpel-link="internal" rel="noopener noreferrer nofollow">crypto market</a> in the near term. The analyst, known by the pseudonym Rekt Capital, informed his 499,300 followers on social media platform X that Bitcoin and crypto assets have recently experienced strong selling pressure.
<h2 id="the-end-of-selling-pressure-approaches">The End of Selling Pressure Approaches</h2>
Rekt Capital expressed that sellers cannot sustain this downward trend for long, which could open doors for a bullish movement in the crypto market.
<blockquote>
 “Recently, there has been strong selling across the market. Seller exhaustion is likely soon.”
</blockquote>
The analyst emphasized the need to monitor high selling volume bars in the short term, as such volume bars typically signal a bottom after continuous selling, followed by either a strong rebound or a complete trend reversal.
<h2 id="signs-of-seller-exhaustion-in-charts">Signs of Seller Exhaustion in Charts</h2>
Rekt Capital noted that a significant volume bar on the daily chart is a sign of seller exhaustion when looking more closely at the Bitcoin chart.
<blockquote>
 “Bitcoin’s selling side volume must be large enough to enter this orange box to reach seller exhaustion levels, which would initiate an upward price reversal.”
</blockquote>
Currently, the selling side volume has not yet reached the seller exhaustion levels seen in previous upward price reversals.
<h2 id="long-term-bull-market">Long-Term Bull Market</h2>
Despite the recent price correction, Rekt Capital believes that Bitcoin remains in a long-term <a href="https://finance.coin-turk.com/" data-wpel-link="exclude" rel="noopener noreferrer nofollow">bull market</a>. The analyst indicated that history shows Bitcoin could stay in the current bull market for up to one more year.
<blockquote>
 “History shows that Bitcoin has stayed in the current bull market for up to one year.”
</blockquote>
At the time of writing, Bitcoin is trading at $55,102.
The analyst’s comments highlight possible scenarios for Bitcoin and the crypto market. If selling pressure exhausts, the market could see either a strong recovery or a permanent trend change. In the long term, Bitcoin is likely to continue in a bull market.
The post <a href="https://en.coin-turk.com/analyst-predicts-potential-bitcoin-market-recovery/" data-wpel-link="internal" rel="noopener noreferrer nofollow">Analyst Predicts Potential Bitcoin Market Recovery</a> appeared first on <a href="https://en.coin-turk.com" data-wpel-link="internal" rel="noopener noreferrer nofollow">COINTURK NEWS</a>.

Analyst Predicts Potential Bitcoin Market Recovery

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