A renowned crypto analyst who accurately predicted Bitcoin’s pre-halving correction last year is now forecasting more bullish rallies for the leading cryptocurrency. Rekt Capital, known for his insights shared on the social media platform X, believes that Bitcoin is on the verge of a significant uptrend after displaying positive signals across multiple time frames.
In a recent update to his followers, Rekt Capital highlighted Bitcoin’s successful flip of a previous resistance level into support on the three-month time frame. This development, where Bitcoin solidified the $60,000 mark as a support level in Q4 of 2024, positions BTC for further upward momentum.
On a closer look, the analyst pointed out that Bitcoin has breached the psychological resistance level at $100,000, signaling clear skies ahead for the cryptocurrency. However, Rekt Capital emphasized the importance of a daily close above $101,165 to confirm this bullish trend.
As of the latest trading day, Bitcoin has surpassed Rekt Capital’s resistance zone and is currently valued at $102,130. The analyst also highlighted his observations on the altcoin market, particularly focusing on the OTHERS chart, which tracks the total market cap of cryptocurrencies excluding the top 10 digital assets and stablecoins. According to Rekt Capital, OTHERS recently found a bottom around $315.57 billion after retesting a previous resistance level as support, now valued at $381.19 billion.
For those keen on staying updated with market movements, Rekt Capital recommends subscribing to email alerts for timely updates. Additionally, followers can track price action and stay connected through social media platforms like X, Facebook, and Telegram. The analyst also encourages readers to explore The Daily Hodl Mix for a comprehensive overview of crypto news and insights.
In conclusion, with Bitcoin poised for further rallies and altcoins showing signs of recovery, investors are closely monitoring these developments in the crypto market. As the industry continues to evolve, staying informed and adapting to market trends is crucial for navigating the volatile world of digital assets.