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#AprilMarketForecastShare
When Will the Bitcoin Bull Run and the Real Altcoin Season Happen? Analyst Who Predicted the Crash Explained
The cryptocurrency market is struggling to maintain its momentum despite rising again. After retreating to the critical resistance level of $80,000, Bitcoin managed to recover to $85,000. However, it remains uncertain whether it can sustain this upward momentum. A crypto analyst who accurately predicted Bitcoin's correction before last year's halving explains what is needed for BTC to regain its bullish trend.
"This will trigger the upward movement of Bitcoin (BTC)!"
The crypto market is locked onto the tariff announcements that U.S. President Donald Trump will make on April 2. In the midst of this anticipation, a crypto analyst known as Rekt Capital states that Bitcoin reflects the price movement of 2021. During this period, BTC consolidated between two important exponential moving averages (EMA) on the weekly chart.
According to the analyst, Bitcoin needs to convert the 21-week EMA into support to trigger the resumption of its upward movement. In this context, the analyst makes the following statement:
Earlier this week, Bitcoin was rejected at the 21-week EMA resistance at (green). As a result, Bitcoin continues to consolidate between these two Bull Market EMAs, as it did in mid-2021. However, the key confirmation signal for a future breakout will be a weekly close above the green EMA, followed by a retest of the new support after the breakout at (light blue circle).
When will the real altcoin season start?
The analyst is also looking at the altcoin market. Rekt Capital expects altcoins to continue to underperform compared to Bitcoin, based on the BTC dominance chart (BTC.D), which tracks how much of the total cryptocurrency market value belongs to the leading cryptocurrency.
According to Rekt Capital, BTC.D could reach an important resistance level that has remained intact since 2017 before losing momentum. When this happens, the analyst predicts that a real altcoin season will begin. The analyst explains their views on this matter as follows:
BTC Dominance: If history repeats itself, the real altcoin season that everyone expects will begin when Bitcoin Dominance is rejected at 71%.
When will the real altcoin season start?
The analyst is also looking at the altcoin market. Rekt Capital expects altcoins to continue underperforming compared to Bitcoin, based on the BTC dominance chart that tracks how much of the total crypto market cap belongs to the leading cryptocurrency: (BTC.D).
According to Rekt Capital, BTC.D can reach an important resistance level that has remained intact since 2017 before losing momentum. When this happens, the analyst predicts that a real altcoin season will begin. The analyst explains his views on this matter as follows:
BTC Dominance: If history repeats itself, the real altcoin season that everyone is waiting for will begin when Bitcoin Dominance is rejected at 71%.
The declining BTC.D chart indicates that altcoins are gaining value faster than Bitcoin. Meanwhile, at the time of writing, BTC.D was hovering at 62.26%.