In the ever-volatile world of cryptocurrency, timing is everything. Recently, a renowned crypto strategist, known on social media as Rekt Capital, who accurately predicted Bitcoin’s pre-halving correction, has shared a crucial update: the window for bargain-buying Bitcoin has closed. If you’ve been waiting for a discounted BTC, it’s time to reconsider your strategy.
Rekt Capital, who boasts nearly half a million followers, has made a bold claim that Bitcoin is on the brink of reclaiming its key reaccumulation range. According to his analysis, the historical pattern suggests that once Bitcoin reclaims this range, it often signals a period of strength and upward momentum. This could be a pivotal moment for those who are keenly watching Bitcoin’s price movements.
The analyst’s recent tweet highlighted that the downside deviation, or the drop in Bitcoin’s price that created buying opportunities, has come to an end. With Bitcoin currently trading at $64,245, Rekt Capital believes that the digital asset has resumed its upward trend. The critical price point to watch is around $61,500; as long as Bitcoin remains above this threshold, it could confirm the start of a new bullish phase.
Rekt Capital’s chart analysis indicates that Bitcoin is poised to challenge its diagonal resistance, a trendline that has been holding the price back since March. A sustained trading price above $61,500 in the coming weeks could signal the end of Bitcoin’s bearish phase and a potential breakout.
Looking ahead, Rekt Capital suggests that Bitcoin needs to close August above $64,500 to solidify the end of its high timeframe downtrend. If Bitcoin manages to close above this level, it would not only break the trendline resistance but also mark the end of the current downtrend, paving the way for future gains.
In essence, the time for cheap Bitcoin purchases has passed, and the next few weeks could be crucial in determining the digital currency’s trajectory. For traders and investors, this is a critical juncture to reassess strategies and prepare for potential upward movements in Bitcoin’s price.
