Bitcoin Rallies Expected to Continue According to Crypto Analyst
A renowned crypto analyst who accurately predicted Bitcoin’s pre-halving correction last year is now forecasting more bullish movements for the leading cryptocurrency. Rekt Capital, an analyst with a strong following on X, recently shared insights indicating that Bitcoin is poised for further rallies after displaying positive signals across multiple time frames.
In a recent post, Rekt Capital highlighted how Bitcoin successfully turned a previous resistance level into support on the three-month time frame, specifically at the $60,000 mark in Q4 of 2024. This strategic move has positioned Bitcoin for potential upward momentum, with the analyst confidently stating, “Post-breakout quarterly retest and trend continuation confirmed.”
Zooming in on the current market situation, the analyst pointed out that Bitcoin has surpassed the psychological barrier at $100,000, signaling a clear path for further growth. However, Rekt Capital emphasized the importance of a daily close above $101,165 for sustained bullish momentum.
As of the latest update, Bitcoin is trading above the resistance zone identified by Rekt Capital, with a current value of $102,130. The analyst remains optimistic about Bitcoin’s trajectory and anticipates continued positive movement in the near future.
In addition to Bitcoin, Rekt Capital is closely monitoring the altcoin market, particularly the OTHERS chart, which tracks the total market capitalization of all cryptocurrencies excluding the top 10 digital assets and stablecoins. According to the analyst, OTHERS recently hit a local bottom around $315.57 billion after successfully retesting a previous resistance level as support.
The altcoin market cap has shown resilience in the face of historical rejection points, with the current value of OTHERS standing at $381.19 billion. This development suggests a potential shift in market dynamics and a favorable outlook for altcoins in the coming days.
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As always, it’s essential to stay informed and educated about cryptocurrency trends and market dynamics to make informed investment decisions. With expert analysis and timely updates, investors can navigate the volatile crypto landscape with confidence.
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