By Bardil 
A prominent cryptocurrency analyst has announced that Bitcoin (BTC) has successfully broken a prolonged downtrend, signaling a potential upward trajectory for the digital asset.
The pseudonymous analyst, REKT CAPITAL, shared insights with his 543,000 followers on social media platform X, noting that BTC has not only breached a critical diagonal resistance but has also converted it into a support level, maintaining a price above $85,000.
“Bitcoin hasn’t just broken the Downtrend and successfully retested it as support for the first time since Downtrend formation. But Bitcoin has also been able to sustainably maintain above the Downtrend for a period of several consecutive days now,” stated REKT CAPITAL.
The analyst further elaborated that Bitcoin is likely in the initial corrective stage of what he terms the “Banana Zone”—a phase of parabolic expansion typically observed after Bitcoin surpasses previous cycle highs. According to REKT CAPITAL, BTC is poised to reach new all-time highs before undergoing another corrective phase and ultimately peaking in its bull market cycle.
“Technically, we should be seeing parabolic upside, but instead we’re getting [consolidation]. The ‘Banana Zone’ is a term of endearment for the parabolic phase of the cycle when it comes to Bitcoin’s price action whenever it breaks beyond old all-time highs into new all-time highs. What happens with Bitcoin’s price action when it breaks to new all-time highs is, yes, we do see a parabolic ascension to those new all-time highs but sometimes when we break to new all-time highs, it can get a little bit bumpy, so it tends to be bumpy in and around the old all-time high region and it tends to be also bumpy once we’ve rallied to new all-time highs…What that means is we’re going to see additional upside, so that gets us into the corrective phase two. We tend to see at least two corrective periods in price discovery,” REKT CAPITAL explained.
At the time of writing, Bitcoin is trading at $87,523, reflecting a positive shift in its valuation.
Source: [X](https://x.com/rektcapital/status/1913603970422956513/photo/1)