Crypto Analyst Projects A Huge Bitcoin Rally As Soon As It Breaks $43.1K
According to crypto analyst, known as Rekt Capital, Bitcoin (BTC) is likely to launch a massive rally, as soon as it breaks above $43,100 price level.
The popular analyst shared with his 292K followers on Twitter Bitcoin looks ready to shoot up once it reclaims $43,100 range.
“The most important BTC EMAs (exponential moving average) and MAs (moving average) that have historically dictated breakouts are suggesting that the ~$43,100 level is one to break for immense upside.”
The most important #BTC EMAs & MAs that have historically dictated breakouts are suggesting that the ~$43100 level is to one to break for immense upside
I talk more about this in my most recent newsletter
According to Rekt Capital, the last time Bitcoin broke the $43,100 mark while keeping its upward trend, it was able to reach current all-time high back in November 2021.
“BTC has performed upside wicks beyond the $43,100 resistance on a few occasions over the past few weeks.
Which is why it’s important that BTC performs a weekly close above this level, just like in August 2021.”
Source: Rekt Capital/Twitter
The analyst notes that there are technical indicators that are flagging that the leading digital asset could see price appreciation very soon.
“Not only is BTC forming a higher low on its price on the weekly timeframe, but it is also forming a higher low on indicators like the RSI (Relative Strength Index) or the MACD (moving average convergence/divergence).
Promising confluence.”
Not only is #BTC forming a Higher Low on its price action on the Weekly timeframe…
But it is also forming a Higher Low on indicators like the RSI or the MACD
