Bitcoin (BTC) Market Update: Crypto Strategist Rekt Capital Thinks BTC Is Now Entering an Uptrend
- WBOYOriginal
- 2024-07-19 11:59:28810browse
Pseudonymous trader Rekt Capital tells his 484,100 followers on the social media platform X that Bitcoin has convincingly broken out of a descending
A crypto strategist who accurately predicted the Bitcoin (BTC) correction ahead of the halving earlier this year now believes that BTC is finally entering an uptrend.
Pseudonymous trader Rekt Capital tells his 484,100 followers on the social media platform that Bitcoin has decisively broken out of a descending trendline on the daily chart.
Bitcoin Price Analysis: BTC Finally Entering Uptrend? – BeInCrypto
“The Bitcoin downtrend is over. A new Bitcoin uptrend has begun.”
The analyst anticipates that if Bitcoin flips the $65,000 level into support, a new trading range will form with an upper bound of $71,500.
Bitcoin Price Analysis: BTC Finally Entering Uptrend? – BeInCrypto
“The moment Bitcoin breaks $65,000 (blue) is the moment Bitcoin will form a new red cluster of price action Breaking $65,000 would mean price would be ready to move inside the $65,000-$71,500 region.”
The analyst also notes that Bitcoin’s recent return to the $60,000 zone suggests that BTC could follow previous cycle patterns and soon be surging to new all-time highs (ATHs).
Bitcoin Price Analysis: BTC Finally Entering Uptrend? – BeInCrypto
“The reaccumulation range has successfully been reclaimed. The importance of this reclaim cannot be understated.”
The analyst recently stated that with the reclaimed reaccumulation zone, future Bitcoin dips would likely only be short-lived.
Bitcoin Price Analysis: BTC Finally Entering Uptrend? – BeInCrypto
“Any dip, should one occur, would be Bitcoin’s way of reclaiming previously lost levels as new support. Any dips would act as a pivotal retest in ensuring further trend continuation to the upside. Just remember this on a future red day.”
Bitcoin is trading at $64,794 at the time of writing, up nearly 2% in the last 24 hours.
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