Bitcoin is once again testing $60,000 as traders debate whether another major leg down is incoming.
The price action comes as BTC appears on track for three consecutive quarterly declines, a rare occurrence in its history.
Some traders are noting the asset’s recent resilience despite ongoing pressure, highlighting potential support levels around current prices.
But analyst Rekt Capital says he believes BTC will continue to mirror its 2022 trajectory.
He points to the 50-month EMA (Exponential Moving Average), which tracks Bitcoin’s trend over about 4 years.
Rekt Capital expects Bitcoin to close June below this long-term support line, turning it into resistance for July, with a likely rejection in August.
“This cycle has repeated 2022 tendencies very closely thus far and looks like that will continue throughout the Summer.”
BTC is priced at $60,218 at time of publishing, up 0.34% in the last 24 hours.
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