A crypto analyst who weathered 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 social media platform
The trader shares a chart showing how Bitcoin has strengthened the $60,000 level as support in the fourth quarter 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 that Bitcoin has broken through the $100,000 psychological resistance area, indicating that it is all blue sky for BTC now.
“Requires a daily close above $101,165 (black).”
Bitcoin ended the previous trading day above Rekt Capital’s resistance zone. At the time of writing, BTC is worth $102,130.
Looking at the altcoin market, the analyst says he is keeping a close eye on the OTHERS chart, which tracks the total market capitalization of all cryptocurrencies excluding the top 10 digital assets and stablecoins. According to Rekt Capital, OTHERS printed a local low of around $315.57 billion after retesting the previous resistance area as support.
“The Altcoin Market Cap finds a bottom in the area circled in green.
This area historically acted as a point of rejection (red circles), but now acts as a point of support.”
At the time of writing, OTHERS is valued at $381.19 billion.
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Generated image: Midjourney