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- Crypto analyst, Rekt Capital, identifies a resistance level for Bitcoin
(BTC) at approximately $26,000.
- The analyst predicts a potential drop to around $20,000 due to Bitcoin’s struggle to surpass this resistance.
- Rekt Capital also evaluates the current outlook of AI altcoin Fetch.AI (FET), indicating that it is stuck at a certain resistance.
This article provides a detailed analysis by crypto expert Rekt Capital on the current state of Bitcoin and the AI altcoin Fetch.AI, focusing on their resistance levels and potential future movements.
Bitcoin’s Resistance Level: A Trigger for a Potential Drop
Crypto analyst Rekt Capital has highlighted a resistance level for Bitcoin at approximately $26,000. The analyst suggests that Bitcoin is struggling to surpass this resistance, which could potentially trigger a drop to around $20,000. This prediction is based on the weekly time frame analysis of Bitcoin’s performance.
Bitcoin’s Current Trading Position
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As per CoinMarketCap data, Bitcoin is currently trading just above the identified resistance level at $26,353, following a 2.12% increase in the last 24 hours. If Bitcoin’s weekly candle closes at these levels, it could indicate a breakthrough of the resistance. However, Rekt Capital does not anticipate this breakthrough and instead predicts a pullback to approximately $20,000.
Evaluation of AI Altcoin Fetch.AI’s Current Outlook
Rekt Capital also provided an analysis of Fetch.AI (FET), an AI altcoin on his watchlist. Fetch.AI, which increased its value by over 150% last year, aims to create and facilitate a decentralized digital economy by integrating technologies like machine learning, artificial intelligence, and blockchain. The FET token is used as a payment method for network transactions.
Despite FET gaining over 20% in value in the last month, Rekt Capital suggests that its next price level has been acting as resistance for the past two and a half months. The analyst states that FET is technically locked in a range until the next announcement.
In conclusion, the crypto market is currently experiencing resistance levels that could potentially impact the future movements of Bitcoin and Fetch.AI. As per Rekt Capital’s analysis, Bitcoin may see a drop to around $20,000, while Fetch.AI is expected to remain in a range until further announcements. Crypto enthusiasts should keep a close eye on these developments to make informed investment decisions.