SOL - Bitcoin Poised For Historic 'Breakout' With This One Last Step Top Crypto Analyst Predicts | Benzinga
Pseudonymous crypto strategist Rekt Capital, known for accurately predicting Bitcoin’s (CRYPTO: BTC) current correction, suggests that the cryptocurrency is on the brink of an all-time high breakout.
What Happened: Rekt Capital informed his 440,100 followers on X that Bitcoin has begun the breakout process, as reported by Daily Hodl on Tuesday. Bitcoin reportedly finished the last week of March above its resistance level at $69,000, marking the first step of the breakout process.
"Weekly close above the range high (RH) is the 1st step. And if BTC needs to dip into the RH to successfully retest it as new support before continuing higher…That would be the 2nd step to fully confirming the breakout,” he wrote.
The analyst further asserted that to confirm the all-time high breakout, Bitcoin needs to transform the resistance level into support. Moreover, to ensure a successful retest, Bitcoin must maintain a weekly closing above $65,596.
At the time ...