Following an intraday decline to $59,000, a well-known analyst has shared his/her opinion on BTC, claiming that the cryptocurrency will hold at the current prices.
The crypto trader with almost half a million subscribers on X, known under the pseudonym Rekt Capital, posted a video urging people to buy BTC for a possible rise to $60k on the weekly chart.
The analyst also points out that while the Bitcoin price cycle has been quicker in starting off in the present cycle, it has since slowed down, which means more of a conventional bull run is yet to be expected.
Finally, the analyst notes that on the weekly chart of BTC/USD, a bearish lower channel pattern might be developing, implying that Bitcoin could retest $60,000 support
