It’s been revealed that the most important digital asset out there, Bitcoin is getting closer to a peak opportunity zone. Check out the latest reports here.
At the moment of writing this article, BTC is trading in the green and the king coin is priced at $19,435.
Bitcoin buying zone
A popular crypto trader says that Bitcoin is approaching a price zone that could offer a highly favorable risk-reward ratio for long-term BTC investors.
The latest reports note the fact that the crypto strategist Rekt Capital said recently that this cycle might be different for BTC as the king crypto continues to trade below the 200-week moving average (MA).
Just in case you don’t know, this is an indicator that has previously marked the bottom for the leading digital asset.
“Historically, the 200-week MA has figured as a bottom indicator for BTC. In this cycle, things may be a bit different. Instead of BTC bottoming at the 200-week MA, it may form a macro range below it. Anything below the 200-week MA will likely represent peak opportunity.”
According to the crypto strategist, Bitcoin will likely face seller exhaustion as it trades below the 200-week moving average. Rekt Capital says that this could eventually put long-term investors in a position to pick up BTC at a price area that offers maximum rewards.
“Across its entire history, BTC has always downside-deviated below the 200-week MA, but this time? The downside-deviation hasn’t had a strong/quick recovery back above the 200-week MA. The BTC recovery may take longer, but it’s still a downside deviation nonetheless.”
He continued and pointed out the following:
“BTC is reaching historic levels of overselling. At some point, this extreme overselling will coincide with the point of maximum financial opportunity.”
Stay tuned for more news and make sure to check out the crypto market as well.