Bitcoin (BTC) Sees Explosive Trading Volume Surge as New Uptrend Begins: Rekt Capital
- PHPzOriginal
- 2024-07-19 13:12:21626browse
Pseudonymous trader Rekt Capital notes that Bitcoin has decisively broken a descending trendline on the daily chart, signaling the end of its downtrend and the start of a new upward movement.
Crypto strategist who called Bitcoin's pre-halving correction now thinks BTC is starting a new uptrend.
Pseudonymous trader Rekt Capital notes that Bitcoin has broken a descending trendline on the daily chart, signaling the end of its downtrend and the beginning of a new uptrend on the chart.
#BTC
The Bitcoin Downtrend is over
A new Bitcoin Uptrend has begun$BTC #Crypto #Bitcoin
https://t.co/cvSyIq7byI
pic.twitter.com/A36rbafY25
— Rekt Capital (@rektcapital) July 16, 2024
Rekt Capital says that if Bitcoin can turn the $65,000 level into support, it will create a new trading range with an upper boundary of $71,500. A break of the $65,000 level would put Bitcoin in line to trade within the $65,000-$71,500 zone.
#BTC
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
$BTC #Crypto #Bitcoin
https://t.co/yxOhRsmVU9
pic.twitter.com/TZMP37ufjx
— Rekt Capital (@rektcapital) July 16, 2024
The analyst also notes that Bitcoin's recent return to the $60,000 range could be setting up a pattern that has been seen in previous cycles, which would suggest that new all-time highs are on the horizon. The reaccumulation range has now been successfully reclaimed, which is a key development.
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Bitcoin (BTC) Sees Explosive Trading Volume Surge
Finally, Rekt Capital notes that with the reaccumulation zone now reclaimed, any future dips in Bitcoin are likely to be short-lived, serving as opportunities for BTC to print new support and continue its روند صعودي.
Any dip would be a way for Bitcoin to reclaim previously lost levels as new support, ensuring further trend continuation to the upside.
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