---
title: "Bitcoin poised to break current downtrend, says analyst"
url: https://diffcoin.com/bitcoin-poised-to-break-current-downtrend-says-analyst/
description: "Trader Rekt Capital predicts a potential end to Bitcoin's June downtrend, suggesting a temporary breakout might occur soon."
published: 2024-06-27
updated: 2024-06-27
author: "Mila"
site: "Diffcoin"
---

# Bitcoin poised to break current downtrend, says analyst

### Key Takeaways

- Bitcoin’s current price level might be the last buying opportunity before a significant rise.
- Historical retraces typically reach 22%, aligning with Bitcoin’s current pullback.

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Bitcoin (BTC) is nearing breaking the downtrend pressing its price down over June, according to the trader identified as Rekt Capital. Moreover, in a video published today, he shared that the current price level might be the last buying bargain before a parabolic upward movement.

Usually, the retraces reach 22% on average, indicating a local bottom. In an X post, Rekt Capital pointed out that the current pullback is “very, very close” to the 22% average.

Notably, this means that a bottom is practically formed, and it is a position from where Bitcoin could rise. Rekt Capital then adds that BTC is close to breaking its June downtrend, which is putting pressure on its price for the whole month.

> “Let’s see if this current price action on the Daily continues to form this small, early-stage Bull Flag (orange). If this indeed turns into a Bull Flag, Bitcoin should be able to challenge the June Downtrend (light blue),” explained the trader.

https://twitter.com/rektcapital/status/1806355516483944959

Nevertheless, the trader confirms in his video that a breakout for a parabolic upward movement is still set to happen in September. Therefore, even if Bitcoin breaks its current downtrend, the price leap would be just temporary.

Additionally, current support near the $61,000 price level should be maintained to confirm that this is, indeed, the last bargain opportunity to buy Bitcoin.

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