|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Cryptocurrency News Articles
Bitcoin (BTC) Is Close to Confirming a Breakout, Says Rekt Capital
Oct 21, 2024 at 04:00 am
A closely followed crypto analyst says that Bitcoin (BTC) is close to confirming a breakout after repeatedly pushing against tough resistance.
Seasoned crypto analyst reveals that Bitcoin (BTC) is nearing confirmation of a breakout after encountering strong resistance on multiple occasions.
Operating under the pseudonym Rekt Capital, the trader informs his 504,000 followers on social media platform X that BTC is one daily close away from confirming a breakout from a seven-month range.
“Bitcoin is once again pressing beyond the very top of the resistance area (red).
One Daily Close beyond the red resistance is all Bitcoin needs to fully position itself for a confirmed breakout from here.
Daily Close is essential to confirm lack of upside wicks beyond resistance.”
At the time of writing, BTC is trading at $68,163, close to the price level indicated in Rekt’s chart.
The trader also notes that Bitcoin is forming essentially the same setup on the weekly chart.
“On the cusp of confirming a breakout beyond the multi-month Channel Top resistance.
A Weekly Close just like this would be bullish.”
Taking a broader view, Rekt Capital says that based on previous halvings, where Bitcoin miner rewards are cut in half, BTC is likely headed for higher prices in the coming months.
He shares a chart showing a pattern of BTC consolidating around the halving before rallying to higher highs in the months following.
“We are here (orange circle).
We will be there (green circle).”
Disclaimer:info@kdj.com
The information provided is not trading advice. kdj.com does not assume any responsibility for any investments made based on the information provided in this article. Cryptocurrencies are highly volatile and it is highly recommended that you invest with caution after thorough research!
If you believe that the content used on this website infringes your copyright, please contact us immediately (info@kdj.com) and we will delete it promptly.
-
- Craig Wright's Lawsuit Against Bitcoin Core Developers: A Cultural Battle Within Cryptocurrency
- Oct 21, 2024 at 08:45 am
- Australian computer scientist Craig Wright has filed a lawsuit against Bitcoin Core developers in London's High Court of Chancery. This latest legal effort is Wright's attempt to assert that Bitcoin SV (BSV), a variant of Bitcoin he champions, represents the true version of the cryptocurrency originally envisioned by its mysterious creator, Satoshi Nakamoto.
-
- Bitcoin (BTC) Maintains Position Above $68,000 as Altcoins Register Gains
- Oct 21, 2024 at 08:35 am
- The cryptocurrency market is showing signs of stability today, with Bitcoin (BTC) maintaining its position above the $68,000 mark. This steady performance is a welcome change for many investors, especially as altcoins such as Ethereum (ETH) and Solana (SOL) also register gains.
-
- Prime Minister States Russia Will Create a National Domestic Payment System
- Oct 21, 2024 at 08:35 am
- Russia is embarking on a mission to achieve independence from the current financial institutions. At the Moscow Financial Forum, Prime Minister Mikhail Mishustin highlighted this system is the only opportunity for Russia to reach a fair principles-based international trade platform.
-
- Bitcoin vs Dollar: Anthony Pompliano Explains Why BTC Is Better Than Fiat Currencies
- Oct 21, 2024 at 08:20 am
- The Bitcoin vs Dollar debate has been a favorite topic among financial analysts, crypto enthusiasts, and the general investing public. As Bitcoin continues its erratic price action, even briefly hitting over $70k last March 2024, the question remains as relevant as ever.