{"id":170272,"date":"2021-07-13T09:30:04","date_gmt":"2021-07-13T04:00:04","guid":{"rendered":"https:\/\/ambcrypto.com\/?p=170272"},"modified":"2021-07-13T09:06:23","modified_gmt":"2021-07-13T03:36:23","slug":"analyst-on-bitcoin-in-the-coming-days-i-would-not-be-surprised-if-bitcoin","status":"publish","type":"post","link":"https:\/\/ambcrypto.com\/analyst-on-bitcoin-in-the-coming-days-i-would-not-be-surprised-if-bitcoin\/","title":{"rendered":"Analyst on Bitcoin in the coming days: I would not be surprised if Bitcoin…"},"content":{"rendered":"

The Grayscale Bitcoin Trust (GBTC), the world\u2019s largest digital-assets fund manager is due to release a large amount of BTC after a six-month lock-up period. Several speculations are being made around this event, one of them being that the GBTC unlock may effect price volatility in Bitcoin<\/a> markets in the coming weeks.<\/p>\n

Irrespective of the speculations, this crypto analyst had an optimistic outlook towards the price movements of the largest cryptocurrency in the world.<\/p>\n

Rekt Capital recently posted a discussion on Bitcoin’s price trajectory, following the ongoing nervousness within the community. This update incorporated two interesting events concerning a key metric that Bitcoin displayed for eight weeks in a row.<\/p>\n

In his first update<\/a>, the analyst highlighted a crucial level that Bitcoin needed to achieve for an imminent breakout. Failing to do so, the bulls may not have long to last before fresh losses hit. He mentioned,<\/p>\n

\n

#BTC<\/a> Weekly Closed below the multi-month Higher Low & already this HL is acting as resistance<\/p>\n

The blue 50-week EMA is still holding as support<\/p>\n

If this HL isn't reclaimed as support soon, the sell-side pressure on the 50 WEMA may be too much for $BTC<\/a> to hold here#Bitcoin<\/a> pic.twitter.com\/BNfVXi6V4e<\/a><\/p>\n

— Rekt Capital (@rektcapital) July 12, 2021<\/a><\/p><\/blockquote>\n