A popular cryptocurrency trader is analyzing price movements across Bitcoin (BTC), Solana (SOL), and altcoins.
pseudonymous trader Rekt Capital says 390,400 followers on social media platform
“The moment of truth for Bitcoin
The green arrow shows a good retest with Range Low support.
However, this current bounce may turn the previous Range Low into a new resistance.
However, the range is restored once the daily close exceeds the range minimum and a subsequent one-week close is established.”
At the time of writing, the value of BTC is $41,952, up 6% in the last 24 hours. According to Rekt Capital, the latest leap is effect Depending on the altcoin market cycle.
“Yesterday, the Q1 Altcoin Hype Cycle was suspected.
Today BTC rose +3% and suddenly there is new hope.
The reality is that Bitcoin may continue to see-saw in the short term, but that shouldn’t affect your view of what lies ahead in the coming weeks.”
Analysts dive deeper into altcoin cycles, share graphs, and ask Question – Will the altcoin hype surge soon?
“Is the Q1 altcoin hype cycle slowly approaching?
Lowest Hype = Highest Financial Opportunity (Green)
Highest Hype = Highest Financial Risk (Red)”
In particular, if we look at Rekt Capital, one of the altcoins, Called He expects Solana to decline slightly before continuing its upward trend.
“Solana is following the orange path perfectly.
+15% increase after green zone”
SOL is trading at $93.20 at the time of this writing, up nearly 9% in the last 24 hours.
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Featured Image: Shutterstock/happyframe/Sol Invictus