A widely followed crypto analyst known for accurately calling Bitcoin’s 2025 price peak is issuing a bearish call on BTC.
Trader Rekt Capital tells his 563,200 followers on X that Bitcoin could fall into the $60,000 range as it struggles to clear resistance at $82,500.
“~$82,500 keeps displaying weakness, especially since Bitcoin Weekly Closed below this level last week and has treated this level as resistance ever since
As a result, Bitcoin is showing more signs of reverting into the $60,000 to $80,000 Macro Range for that Right Shoulder to potentially develop over time.”
Looking at the trader’s chart, he seems to suggest that BTC could drop to as low as $63,000 to form the right shoulder of an inverse head-and-shoulders pattern. In technical analysis, the pattern is a bullish reversal formation that could signal the end of a downtrend.
According to the analyst, Bitcoin also tends to correct below its 50-week and 21-week exponential moving averages (EMAs) during the first legs of a new bull market.
“Bitcoin is slowly approaching both the 50-week (purple) and 21-week (green) EMAs for a retest
Historically, Bitcoin has tended to deviate below these two EMAs during retests in early-stage Bull Markets.”
Fellow crypto strategist Bluntz, who is also known for making timely crypto calls, warns that Bitcoin, Ethereum (ETH) and Solana (SOL) have all completed five-wave rallies and will likely fall to lower levels before igniting the next leg up.
“Bitcoin, Ethereum, and Solana all have clear five-wave rises from the lows beginning in May, with daily and 3D bear divs on all 3.
Wouldn’t be surprised to see a multi-month chopsolidation period correcting that move that doesn’t resolve until January, considering the rise lasted three months.”
Based on the trader’s chart, Bitcoin could retrace below $70,000 to complete an ABC corrective move.
At time of writing, Bitcoin is trading at $80,597.
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The post Crypto Strategist Who Nailed 2025 Bitcoin Top Warns BTC Could Drop Below $70,000 – Here’s His Price Target appeared first on The Daily Hodl.