In a thread of tweets shared a while ago with his teeming Twitter followers, the popular analyst described how the price of Bitcoin (BTC) is affected by its exponential moving average (EMA), a calculation where the most recent data points greater significance.

Read Also: Analyst Who Accurately Called Bitcoin May 2021 Crash Predicts Potential BTC Rally. Sets a Target

Rekt Capital tweeted, “BTC tends to confirm uptrends when it breaks above the blue 50-week EMA $BTC tends to confirm maximum financial opportunity when it reaches & breaks down from the black 200-week EMA Is the BTC bottom in already or is there more downside to come?”

#BTC tends to confirm uptrends when it breaks above the blue 50-week EMA$BTC tends to confirm maximum financial opportunity when it reaches & breaks down from the black 200-week EMA

Is the BTC bottom in already or is there more downside to come?

A thread…#Crypto #Bitcoin pic.twitter.com/Matflwh6uQ

— Rekt Capital (@rektcapital) June 7, 2022

In his analysis, the chartist also referenced a lot of significant past price moves, such as that of 2015, 2018, and 2020 before explaining that Bitcoin (BTC) is likely yet to bottom because its price remains 66% off from the 50-week EMA (WEMA).

Rekt Capital noted further:

“Key takeaway is that the first BTC bottom tends to form at least ~100% away from the blue 50-week EMA. And the second BTC bottom tends to form ~50-70% away from the 50 WEMA.

If this continues to be true then BTC hasn’t yet bottomed in this cycle… because the current local BTC bottom is 66% away from the blue 50-week EMA.

Typically the first BTC bottom is ~100% away and the second bottom 50-70% away from the 50 WEMA. This current situation resembles ‘second bottom behavior more than ‘first bottom’ price action.”

5.

Because the current local #BTC bottom is 66% away from the blue 50-week EMA

Typically the first $BTC bottom is ~100% away and the second bottom 50-70% away from the 50 WEMA

So this current situation resembles "second bottom" behaviour more than "first bottom" price action pic.twitter.com/bSjPHlORa4

— Rekt Capital (@rektcapital) June 7, 2022

Read Also: Bloomberg Senior Strategist: Bitcoin (BTC) Will Be One of the Best Assets on Earth Once Inflation Subsides

Rekt Capital Expects Bitcoin at $20,000 Level before reaching Bottom

The chart guru concluded his analysis by targeting a price fall to relatively $20,000 for Bitcoin (BTC) before touching a cycle bottom. He said such a trend will historically satisfy the general tendency of Bitcoin to revisit its previous all-time highs before a new meteoric rally.

“Should BTC once again repeat a 100% separation from the blue 50-week EMA…

Then that could suggest a BTC bottom close to the ~$20,000 area. This would satisfy the general tendency of previous BTC all-time highs not being revisited during corrective periods.”

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The post This Top Analyst Says History Suggests Bitcoin (BTC) Is Yet To Bottom, Sets His Price Target appeared first on Times Tabloid.

According to a well-followed crypto trader, Kaleo, Cardano could experience a 604% surge in price in a matter of months, if Bitcoin (BTC) and Ethereum (ETH) continue to experience an upside trend.

Read Also: Michaël van de Poppe: Cardano (ADA) is ready For the Run to $5

The analyst pointed out that Cardano (ADA) could break out in a similar fashion to Tron-based digital currency, BitTorent (BTT). He said the cryptocurrency surged relatively 1000% from $0.001 to $0.01 between March and April 2021.

Kaleo tweeted, “In a world where BTC is $100K+ and ETH is $10K+, Cardano pulling a BTT wouldn’t surprise me.”

The top crypto trader is also bullish on Cardano (ADA) against Bitcoin (BTC) and believes it’s about to break a crucial long-term resistance.

Read Also: What Charles Hoskinson Said about the Possibility of Hacking Smart Contracts on Cardano Network

Cardano (ADA) Could Record New All-Time High Soon

According to another well-known pseudonymous crypto analyst identified on Twitter as Rekt Capital, flipping $2.30 resistance is crucial for Cardano’s quest to record a new all-time high.

Rekt Capital noted:

“The only major resistance left before a new All-Time Highs is the black level ahead (~$2.30).”

The $ADA dip gets bought aggressively and the rally continues

ADA is getting incredibly close to revisiting its final major resistance of $2.30 (black)

Also very close to revisiting All Time Highs#ADA #Cardano https://t.co/FX0FS7Aekt pic.twitter.com/jDiXaLqcfF

— Rekt Capital (@rektcapital) August 19, 2021

Another Twitter user identified as ‘Fidzcrypto’ has also noted that Cardano (ADA) is showing distinct cup and handle formation on the daily timeframe.

Read Also: ADA Surpasses $2 As Cardano Community Awaits Hoskinson’s Big Announcement about Smart Contract

According to Investopedia, the cup and handle pattern is considered a bullish signal, with the right-hand side of the pattern typically experiencing lower trading volume. The pattern’s formation may be as short as seven weeks or as long as 65 weeks.

At the time of writing, Cardano (ADA), which currently occupies the 3rd position in the market, is trading at $2.49, with a relatively 17% price upsurge in the last 24 hours.

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The post Top Analysts: Cardano (ADA) Could Revisit All-Time High Soon, Poised For 604% Price Surge appeared first on Times Tabloid.