Having weathered Bitcoin’s pre-halving correction last year, the cryptocurrency analyst believes BTC is poised for a further rally after sending out bullish signals for several periods.
Rekt Capital, a pseudonymous analyst, told his 527,600 followers on social media platform
The trader shares a chart showing how Bitcoin could solidify the $60,000 level as support in the fourth quarter of 2024, sending BTC soaring even higher.
“After the breakout, quarterly retests and continuation of the trend were confirmed.”
Zooming in, the trader says Bitcoin has broken the psychological resistance zone towards $100,000, indicating that it is now all blue sky for BTC.
“Daily closing of $101,165 (black) or more required.”
Bitcoin closed the previous trading day above Rekt Capital’s resistance zone. As of this writing, BTC is worth $102,130.
Looking at the altcoin market, the analyst says he is closely watching the OTHERS chart, which tracks the total market capitalization of all cryptocurrencies excluding the top 10 digital assets and stablecoins. OTHERS hit a local bottom at around $315.57 billion after retesting previous resistance areas as support, according to Rekt Capital.
“Altcoin market caps find their bottom in the area marked by the green circle.
“This part historically served as a point of rejection (red circle), but now it acts as a point of support.”
As of this writing, OTHERS is worth $381.19 billion.
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