Bitcoin Poised for Parabolic Surge if This Level Holds, Says Crypto Expert

Bitcoin has recently achieved a major milestone, rallying to new all-time highs after successfully filling a significant CME Gap, as noted by prominent cryptocurrency analyst Rekt Capital.

The price action has closely followed a predicted pathway outlined in the RC Newsletter three weeks ago, highlighting a positive shift for the leading digital asset.

The latest price surge marks a successful retest of the May highs, which were previously set at around $67,500. This level has since transitioned from resistance to support, effectively acting as a springboard for Bitcoin’s new record-breaking highs. The fact that Bitcoin has managed to break through these key levels signals strength in its ongoing rally.

Looking ahead, Bitcoin is at a critical juncture. To confirm its transition from the reaccumulation phase into a parabolic upside phase, BTC needs to maintain a weekly close above the $71,500 mark. A sustained hold above this level would indicate that the market is prepared for further upward movement.

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If Bitcoin can secure a monthly close around this level, it would set a historic precedent for the cryptocurrency. Analysts and investors alike will be watching closely to see if Bitcoin can maintain its momentum and continue to build on this newfound support around $71,500.

For now, Bitcoin’s path appears bullish, but the key test will be whether it can hold above this crucial support level in the coming weeks.

Alexander Stefanov

With over 8 years of experience in the cryptocurrency and blockchain industry, Alexander is a seasoned content creator and market analyst dedicated to making digital assets more accessible and understandable. He specializes in breaking down complex crypto trends, analyzing market movements, and producing insightful content aimed at educating both newcomers and seasoned investors. Alexander has built a reputation for delivering timely and accurate analysis, while keeping a close eye on regulatory developments, emerging technologies, and macroeconomic trends that shape the future of digital finance. His work is rooted in a passion for innovation and a firm belief that widespread education is key to accelerating global crypto adoption.