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Home»ALTCOIN NEWS»Crypto strategist says Bitcoin’s continuation of trend is now ‘confirmed’ and altcoins find bottom
ALTCOIN NEWS

Crypto strategist says Bitcoin’s continuation of trend is now ‘confirmed’ and altcoins find bottom

By Crypto FlexsJanuary 7, 20252 Mins Read
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Crypto strategist says Bitcoin’s continuation of trend is now ‘confirmed’ and altcoins find bottom
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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.”

Source: Rekt Capital/X

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.”

video
Source: Rekt Capital/X

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.”

video
Source: Rekt Capital/X

As of this writing, OTHERS is worth $381.19 billion.

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Disclaimer: Opinions expressed on The Daily Hodl do not constitute investment advice. Investors should do their due diligence before making high-risk investments in Bitcoin, cryptocurrencies, or digital assets. Please note that your transfers and transactions are entirely at your own risk and you will be responsible for any losses you may suffer. The Daily Hodl does not recommend the purchase or sale of any cryptocurrency or digital asset, and The Daily Hodl is not investment advice. The Daily Hodl engages in affiliate marketing.

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