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.”
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).”
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.”
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
 
Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
Generated Image: Midjourney
Credit: Source link
