AAfter experiencing the bulls of the past few weeks, the crypto market has been bearish again, with Bitcoin and other major cryptocurrencies flashing red.
Meanwhile, one of the well-known crypto strategists and traders is currently predicting a minor withdrawal.
Anonymously known analyst rekt capital 
rekt capital Rekt Capital Cryptographic and blockchain expert Follower: 0 View profile Could slightly retreat to his 342,200 Twitter followers, Bitcoin (BTC), Ethereum (ETH), and many other altcoins struggling to move beyond resistance levels It says it is expensive.
Rekt Capital The opinion is that the crypto market will experience minor retracements in the coming days as Bitcoin, Ethereum and everything else is heading for a healthy downturn. This translates a significant retest of the previous resistance currency into new support.
In his latest newsletter, strategists predict that the flagship currency journey towards $ 21,894 will not be that easy. Bitcoin is currently a 200-week moving average, an area that traders consider to be an important area of support or resistance.
In addition, Rekt Capital said: Bitcoin can face denials at this level (Blue box area in the graph below). The blue box area is the area that shows the lateral movement from where the price soared. If the King currency is now facing a withdrawal, the asset will soon convert its top resistance as new support.
If Bitcoin succeeds in regaining the barrier, the currency will see prices rise again towards 200-weekly moving averages.
Bitcoin is currently selling for $ 21,210, a 0.45% surge over the last 24 hours.
Is Ethereum below $ 1,000?
Next, analysts talk about Ethereum, saying that ETH prices are expected to exceed the $ 1,400 price range and end in July. He also feels that Reed Altcoin will transform the area and increase its support after this. Conversely, if Ethereum cannot do this, ETH can easily fall below $ 1000.
Rekt Capital, pointing to the chart below, claims to convert this range to support only if Ethereum succeeds in ending July above orange.
Strategists conclude the analysis by saying that Ethereum cannot do so for the second largest asset by market capitalization and will trade under the area marked in orange. ETH will see a dramatic drop Trading for less than $ 1,000
At the time of reporting, Ethereum has been trading at $ 1,446 with a slight upward trend of 1.95% in the last 24 hours.
