Bitcoin BTC is on the verge of a confirmed breakthrough says analyst as the price defies resistance

CoinWorld reported:
A highly regarded cryptocurrency analyst stated that Bitcoin (BTC) is close to confirming a breakthrough after withstanding strong resistance multiple times.
The pseudonymous trader, Rekt Capital, told his 504,000 followers on social media platform TikTok that BTC is one day away from confirming a breakthrough of a 7-month range.
“Bitcoin is once again challenging the resistance zone’s peak (in red). Bitcoin only needs a daily closing price above this red resistance level to confirm the breakthrough. Daily closing is crucial for confirming an upward trend without resistance,” he said.
[img]
Source:
Rekt Capital/X
At the time of writing, BTC’s trading price was $68,163, close to the price level shown in Rekt’s chart.
The trader also pointed out that Bitcoin has printed a similar setup on the weekly chart.
“It is about to confirm the breakthrough of the top resistance level of several months. Weekly closing prices like this would be bullish,” he added.
[img]
Source:
Rekt Capital/X
Rekt Capital stated that based on previous halvings, when Bitcoin miners’ rewards were reduced, BTC may experience higher prices in the coming months.
He shared a chart showing Bitcoin consolidating before and then climbing in the following months.
“We are here (orange circle). We will be there (green circle).”
[img]
Source:
Rekt Capital/X
Don’t miss any beats—
Subscribe
Get email alerts straight to your inbox
Check
Price Action
Follow us on
X,
Facebook
, and
Telegram
Surf
Daily Hodl Mix