Rekt Capital, a prominent cryptocurrency analyst, suggests that Bitcoin (BTC) has reached a point in its market cycle where it has historically experienced a surge.
The anonymous analyst tells his 483,000 followers on social media platform X that BTC is at a major turning point, similar to what has unfolded in previous chapters of Bitcoin’s history.
Rekt Capital’s chart shows that BTC is forming a parabolic pattern right after it has clearly broken its previous high.
“Bitcoin.
We are here (green circle).”
The analyst said that after bouncing back from $65,000, Bitcoin has officially established that level as support and is now expected to form a range between that level and the $71,000 mark.
“Bitcoin.
The retest was successful.
Bitcoin has established $65,000 as support.
The price will now continue to remain in the $65,000-$71,500 area (red).”
As of this writing, Bitcoin is trading at $68,946.
Looking at the altcoin markets, Rekt Capital is watching Ethereum (ETH) compete with Solana and expects SOL to re-approach the $202 mark after printing its “successful” support tag.
“brush.
It looks like the Solana retest was successful.
If this red zone continues to hold as new support, SOL could revisit the $202 resistance level at least in time.”
At the time of writing, SOL was valued at $189.08.
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