A well-known crypto analyst, who accurately predicted Bitcoin’s pre-halving correction this year, now believes that Bitcoin is entering a new uptrend. The pseudonymous trader Rekt Capital shared this insight with his 484,100 followers on the social media platform X. According to Rekt Capital, Bitcoin has successfully broken out of its descending trendline on the daily chart, indicating the end of the downtrend and the beginning of a new upward movement.
Rekt Capital emphasizes that if Bitcoin can turn the $65,000 level into support, a new trading range with an upper limit of $71,500 will be established. This critical $65,000 mark is seen as the gateway to a higher price range, suggesting significant potential for further gains.
He points out that Bitcoin’s recent movement back to the $60,000 range is a strong signal that BTC could follow previous cycle patterns and reach new all-time highs soon. The reclaiming of this range is pivotal, as it suggests that any future dips would likely be short-lived and serve as retests to confirm support levels.
Currently, Bitcoin is trading at $64,794, reflecting a nearly 2% increase in the last 24 hours. This recent price action suggests that Bitcoin is poised for further growth, and investors should be aware of these key levels and potential for new highs.
