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Top Analyst Issues Bitcoin Alert, Suggests Crypto Could Witness 2015-Style Correction

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According to pseudonymous trader Rekt Capital, if Bitcoin BTC/USD repeats its 2015 price action, it could go through a significant correction. 

In a tweet on Friday, Rekt said Bitcoin’s price could drop even further.

Rekt explained that Bitcoin could plunge to its critical psychological support at around $20,000 if the crypto trades below resistance at $27,000.

However, the crypto analyst said that Bitcoin still needs to reclaim the $28,800 level on the weekly.

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Rekt also said that Bitcoin is flashing a bearish signal on the daily timeframe as it now trades below the neckline of a head-and-shoulders pattern at $27,000. 

Also Read: Analyst Who Predicted May 2021 Crypto Crash Now Says Bitcoin Set To Surge To This Price By 2024

He added that BTC’s inability to reclaim $27,000 as support would likely confirm a reversal pattern.

At the time of writing, Bitcoin was trading at $27,032, about 7 percent down in the last seven days. 

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Meanwhile, another crypto analyst Tone Vays said that the chances of Bitcoin surging by over 30% from the current levels are higher than the probability of the crypto asset plunging to around $22,000. 

Now Read: Analyst Predicts Bold Future For Bitcoin Amid Major Move From Central Banks

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