Crypto Strategist Says Trend Continuation Is Now ‘Confirmed’ for Bitcoin, Sees Altcoins Finding a Bottom
A crypto analyst who nailed Bitcoin’s pre-halving correction last year believes BTC is poised for more rallies after flashing bullish signals on multiple time frames.
Pseudonymous analyst Rekt Capital tells his 527,600 followers on the social media platform X that Bitcoin will likely continue its uptrend after flipping a previous resistance level into support on the three-month time frame.
The trader shares a chart showing how Bitcoin cemented the $60,000 level as support in Q4 of 2024, putting BTC in a position to soar to even greater heights.
“Post-breakout quarterly retest and trend continuation confirmed.”
Source: Rekt Capital/X
Zooming in, the trader says Bitcoin has shattered the psychological resistance area at $100,000, indicating that it’s now all blue skies for BTC.
“Needs a daily close above $101,165 (black).”
Source: Rekt Capital/X
Bitcoin ended the previous trading day above Rekt Capital’s resistance zone. At time of writing, BTC is worth $102,130.
Looking at the altcoin market, the analyst says he’s keeping a close watch on the OTHERS chart, which tracks the total market cap of all crypto excluding the 10 largest digital assets and stablecoins. According to Rekt Capital, OTHERS printed a local bottom at around $315.57 billion after retesting the previous resistance area as support.
“The Altcoin Market Cap finds a bottom in the green circled area.
This area has acted as a historical point of rejection (red circles) but now is acting as support.”
Source: Rekt Capital/X
At time of writing, OTHERS is valued at $381.19 billion.
Don't Miss a Beat – Subscribe to get email alerts delivered directly to your inbox
Check Price Action
Follow us on X , Facebook and Telegram
Surf The Daily Hodl Mix
Generated Image: Midjourney
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
ChatGPT’s head of product to testify in the DOJ’s antitrust case against Google
Share link:In this post: ChatGPT’s head of product, Nick Turley, has been added as a witness for the United States Department of Justice (DOJ) in its antitrust case against Google. Nick Turley is the latest addition to the witness list that features representatives from Perplexity and Microsoft. Google ramps up preparation for Turley’s testimony by asking for documents related to the hearing from OpenAI through a subpoena.
SEC charges New York blockchain engineer over GME rug pull fraud
Share link:In this post: Eric Zhu settled SEC fraud claims for orchestrating a rug pull scheme involving Game Coin. Zhu allegedly misappropriated $553K by moving unlocked liquidity provider tokens to his control. The case marks one of SEC Chair Gary Gensler’s final enforcement actions.
Analyst Points to the Next Target on the Horizon After the Surge in Bitcoin: “If This Place Is Breached, The Next Stop Could Be 128 Thousand Dollars”
A crypto analyst has spoken about the next target for Bitcoin’s price after its recent rally. Here are the details.
Trending news
MoreCrypto prices
More
