{"id":24341,"date":"2023-06-19T16:20:30","date_gmt":"2023-06-19T16:20:30","guid":{"rendered":"https:\/\/coingrafter.com\/index.php\/2023\/06\/19\/bitcoin-signals-potential-breakdown-top-analyst-says\/"},"modified":"2023-06-19T16:20:30","modified_gmt":"2023-06-19T16:20:30","slug":"bitcoin-signals-potential-breakdown-top-analyst-says","status":"publish","type":"post","link":"https:\/\/coingrafter.com\/index.php\/2023\/06\/19\/bitcoin-signals-potential-breakdown-top-analyst-says\/","title":{"rendered":"Bitcoin signals potential breakdown, top analyst says"},"content":{"rendered":"<p> [ad_1]<br \/>\n<\/p>\n<div>\n<div class=\"post-article-image  -mt-24  mb-8  lg:-mt-32  rounded  overflow-hidden\">\n<picture><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2023\/06\/1687188134845-0fd21d8c-0e57-46d5-990a-777097dd8b9f-smartcrop-750x375.webp\" type=\"image\/webp\" media=\"(min-width: 750px)\"\/><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2023\/06\/1687188134845-0fd21d8c-0e57-46d5-990a-777097dd8b9f-smartcrop-363x181.webp\" type=\"image\/webp\"\/><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2023\/06\/1687188134845-0fd21d8c-0e57-46d5-990a-777097dd8b9f-smartcrop-750x375.jpg\" type=\"image\/jpeg\" media=\"(min-width: 750px)\"\/><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2023\/06\/1687188134845-0fd21d8c-0e57-46d5-990a-777097dd8b9f-smartcrop-363x181.jpg\" type=\"image\/jpeg\"\/><img decoding=\"async\" src=\"https:\/\/coinjournal.net\/wp-content\/uploads\/2023\/06\/1687188134845-0fd21d8c-0e57-46d5-990a-777097dd8b9f.jpg\" alt=\"\" width=\"100%\" height=\"100%\"\/>\n<\/picture>                    <\/div>\n<ul>\n<li dir=\"ltr\">Bitcoin (BTC) is positioned for additional draw back as a brand new Weekly Close beneath the 200-week transferring common signals.<\/li>\n<li dir=\"ltr\">BTC rejecting from above $26k would welcome bears to the social gathering as double-confirmation of the breakdown.<\/li>\n<li dir=\"ltr\">According to crypto analyst Rekt Capital, the 200-week MA is a strong resistance zone.\u00a0<\/li>\n<\/ul>\n<p dir=\"ltr\">As <a href=\"https:\/\/coinjournal.net\/bitcoin\/\">Bitcoin<\/a> bulls face rejection from above $26k, a top analyst has identified the benchmark cryptocurrency\u2019s worth faces recent draw back strain.<\/p>\n<p dir=\"ltr\">BTC worth is at the moment 2.4% up up to now week, however has failed to interrupt previous key resistance round $26,600. The breakdown to lows of $24,800 final week amid unfavorable regulatory headlines seems to have solely emboldened bears additional.<\/p>\n<h2 dir=\"ltr\">Bitcoin positioned for draw back<\/h2>\n<p dir=\"ltr\">According to crypto analyst Rekt Capital, the technical outlook for BTC suggests extra weak spot is probably going. This is after a brand new weekly shut beneath the 200-week transferring common, which signals a \u201cdouble confirmation of [a] breakdown,\u201d the analyst famous.<\/p>\n<p dir=\"ltr\">Last week, Bitcoin worth recovered from lows of $24.8k after the market reacted sharply to the SEC\u2019s lawsuits towards crypto exchanges Binance and Coinbase. Commenting after the upside, Rekt Capital<a href=\"https:\/\/twitter.com\/rektcapital\/status\/1670490269878239232\" rel=\"noopener noreferrer\" target=\"_blank\"> <u>suggested<\/u><\/a> that Bitcoin had \u201c<em>run straight into the 200-week MA<\/em>\u201d<\/p>\n<p dir=\"ltr\">He famous that if bears managed to show this zone into new resistance, there was chance BTC may see a \u201ctwo-step breakdown confirmation.\u201d Such a worth situation was prone to end in additional draw back strain.<\/p>\n<p dir=\"ltr\">\u201c<em>T<\/em><em>echnically, BTC is positioned for downside. Why? Because it has produced another, new Weekly Close below the 200-week MA. As a result, $BTC has shown double-confirmation of breakdown from the 200-week MA. Continued rejection here could send price lower<\/em>,\u201d he<a href=\"https:\/\/twitter.com\/rektcapital\/status\/1670789716138917889\" rel=\"noopener noreferrer\" target=\"_blank\"> <u>tweeted<\/u><\/a> on Monday, pointing to final week\u2019s prediction.<\/p>\n<p dir=\"ltr\">Here\u2019s a<a href=\"https:\/\/twitter.com\/rektcapital\/status\/1670789716138917889\/photo\/1\" rel=\"noopener noreferrer\" target=\"_blank\">\u00a0<u>chart<\/u><\/a> the analyst shared, displaying Bitcoin\u2019s rejection at each a downtrend line and the 200-week MA.<\/p>\n<p dir=\"ltr\"><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/media.igms.io\/2023\/05\/19\/1687187774157-4bd37017-6c19-433a-a25a-201ad7129418.jpg\" style=\"width: 800px\" class=\"fr-fic fr-dib\" width=\"800\" height=\"434\"\/><\/p>\n<p dir=\"ltr\">If Bitcoin provides up the $26k stage once more, a run to June lows may open up room for extra losses. However, as BitMEX founder and former CEO Arthur Hayes identified final week, its doubtless crypto will hit the ache of an prolonged sideways motion earlier than a brand new set off units up an \u201cautumn rally.\u201d<\/p>\n<p dir=\"ltr\">As CoinJournal <a href=\"https:\/\/coinjournal.net\/news\/arthur-hayes-says-the-chinese-trader-will-drive-cryptos-next-bull-market\/\">reported<\/a>, the BitMEX founder believes the set off shall be retail buying and selling, and a giant risk is that this subsequent bull market is led by the Chinese dealer. BlackRock submitting for a spot Bitcoin ETF is also a big tailwind in coming months.<\/p>\n<div class=\"post-meta\">\n<hr class=\"mb-6\"\/>\n<h6 class=\"text-3xl  mb-4  text-green-300\">Share this text<\/h6>\n<hr class=\"mb-6\"\/>\n<h6 class=\"text-3xl  mb-4  text-green-300\">Categories<\/h6>\n<hr class=\"mb-6\"\/>\n<h6 class=\"text-3xl  mb-4  text-green-300\">Tags<\/h6>\n<\/p><\/div>\n<\/p><\/div>\n<p><script async src=\"\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><br \/>\n<br \/>[ad_2]<br \/>\n<br \/><a href=\"https:\/\/coinjournal.net\/news\/bitcoin-signals-potential-breakdown-top-analyst-says-about-btc-price\/\">Source link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>[ad_1] Bitcoin (BTC) is positioned for additional draw back as a brand new Weekly Close beneath the 200-week transferring common signals. BTC rejecting from above $26k would welcome bears to the social gathering as double-confirmation of the breakdown. According to crypto analyst Rekt Capital, the 200-week MA is a strong resistance zone.\u00a0 As Bitcoin bulls [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":24343,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"ocean_post_layout":"","ocean_both_sidebars_style":"","ocean_both_sidebars_content_width":0,"ocean_both_sidebars_sidebars_width":0,"ocean_sidebar":"","ocean_second_sidebar":"","ocean_disable_margins":"enable","ocean_add_body_class":"","ocean_shortcode_before_top_bar":"","ocean_shortcode_after_top_bar":"","ocean_shortcode_before_header":"","ocean_shortcode_after_header":"","ocean_has_shortcode":"","ocean_shortcode_after_title":"","ocean_shortcode_before_footer_widgets":"","ocean_shortcode_after_footer_widgets":"","ocean_shortcode_before_footer_bottom":"","ocean_shortcode_after_footer_bottom":"","ocean_display_top_bar":"default","ocean_display_header":"default","ocean_header_style":"","ocean_center_header_left_menu":"","ocean_custom_header_template":"","ocean_custom_logo":0,"ocean_custom_retina_logo":0,"ocean_custom_logo_max_width":0,"ocean_custom_logo_tablet_max_width":0,"ocean_custom_logo_mobile_max_width":0,"ocean_custom_logo_max_height":0,"ocean_custom_logo_tablet_max_height":0,"ocean_custom_logo_mobile_max_height":0,"ocean_header_custom_menu":"","ocean_menu_typo_font_family":"","ocean_menu_typo_font_subset":"","ocean_menu_typo_font_size":0,"ocean_menu_typo_font_size_tablet":0,"ocean_menu_typo_font_size_mobile":0,"ocean_menu_typo_font_size_unit":"px","ocean_menu_typo_font_weight":"","ocean_menu_typo_font_weight_tablet":"","ocean_menu_typo_font_weight_mobile":"","ocean_menu_typo_transform":"","ocean_menu_typo_transform_tablet":"","ocean_menu_typo_transform_mobile":"","ocean_menu_typo_line_height":0,"ocean_menu_typo_line_height_tablet":0,"ocean_menu_typo_line_height_mobile":0,"ocean_menu_typo_line_height_unit":"","ocean_menu_typo_spacing":0,"ocean_menu_typo_spacing_tablet":0,"ocean_menu_typo_spacing_mobile":0,"ocean_menu_typo_spacing_unit":"","ocean_menu_link_color":"","ocean_menu_link_color_hover":"","ocean_menu_link_color_active":"","ocean_menu_link_background":"","ocean_menu_link_hover_background":"","ocean_menu_link_active_background":"","ocean_menu_social_links_bg":"","ocean_menu_social_hover_links_bg":"","ocean_menu_social_links_color":"","ocean_menu_social_hover_links_color":"","ocean_disable_title":"default","ocean_disable_heading":"default","ocean_post_title":"","ocean_post_subheading":"","ocean_post_title_style":"","ocean_post_title_background_color":"","ocean_post_title_background":0,"ocean_post_title_bg_image_position":"","ocean_post_title_bg_image_attachment":"","ocean_post_title_bg_image_repeat":"","ocean_post_title_bg_image_size":"","ocean_post_title_height":0,"ocean_post_title_bg_overlay":0.5,"ocean_post_title_bg_overlay_color":"","ocean_disable_breadcrumbs":"default","ocean_breadcrumbs_color":"","ocean_breadcrumbs_separator_color":"","ocean_breadcrumbs_links_color":"","ocean_breadcrumbs_links_hover_color":"","ocean_display_footer_widgets":"default","ocean_display_footer_bottom":"default","ocean_custom_footer_template":"","ocean_post_oembed":"","ocean_post_self_hosted_media":"","ocean_post_video_embed":"","ocean_link_format":"","ocean_link_format_target":"self","ocean_quote_format":"","ocean_quote_format_link":"post","ocean_gallery_link_images":"on","ocean_gallery_id":[],"footnotes":""},"categories":[3],"tags":[551,20,1168,1391,1134,216],"class_list":["post-24341","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-bitcoin","tag-analyst","tag-bitcoin","tag-breakdown","tag-potential","tag-signals","tag-top","entry","has-media","owp-thumbs-layout-horizontal","owp-btn-normal","owp-tabs-layout-horizontal","has-no-thumbnails","has-product-nav"],"_links":{"self":[{"href":"https:\/\/coingrafter.com\/index.php\/wp-json\/wp\/v2\/posts\/24341","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/coingrafter.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/coingrafter.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/coingrafter.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/coingrafter.com\/index.php\/wp-json\/wp\/v2\/comments?post=24341"}],"version-history":[{"count":1,"href":"https:\/\/coingrafter.com\/index.php\/wp-json\/wp\/v2\/posts\/24341\/revisions"}],"predecessor-version":[{"id":24342,"href":"https:\/\/coingrafter.com\/index.php\/wp-json\/wp\/v2\/posts\/24341\/revisions\/24342"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/coingrafter.com\/index.php\/wp-json\/wp\/v2\/media\/24343"}],"wp:attachment":[{"href":"https:\/\/coingrafter.com\/index.php\/wp-json\/wp\/v2\/media?parent=24341"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/coingrafter.com\/index.php\/wp-json\/wp\/v2\/categories?post=24341"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/coingrafter.com\/index.php\/wp-json\/wp\/v2\/tags?post=24341"}],"cur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