Renowned crypto analyst Rekt Capital believes that Bitcoin (BTC) is currently in a crucial phase of its market cycle, typically signaling significant upward movements.
Addressing his 483,000 followers on X, the analyst, known by a pseudonym, highlights that BTC is at a pivotal moment that has historically led to substantial growth in Bitcoin’s value.
According to Rekt Capital’s analysis, BTC tends to surge dramatically after breaking through its previous all-time high.
“BTC. We are at this point (green circle).”
Source: Rekt Capital/X
Following a rebound from the $65,000 level, the analyst confirms that Bitcoin has established $65,000 as a strong support level and is likely to trade within a range of $65,000 to $71,000.
“BTC. The retest was successful. Bitcoin has confirmed $65,000 as support. Price is expected to fluctuate between $65,000 and $71,500 (red).”
Source: Rekt Capital/X
Currently, Bitcoin is trading at $68,946.
In addition to Bitcoin, Rekt Capital is keeping an eye on Solana, an Ethereum (ETH) competitor, predicting that SOL could reach $202 after successfully testing a support level.
“SOL. It appears that the Solana retest was successful. Holding this support level could pave the way for SOL to potentially reach $202 in the future.”
Source: Rekt Capital/X
At the time of writing, SOL is valued at $189.08.
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