Analyst Predicts Bitcoin Rally as $100K Resistance Turns to Support

A well-known crypto analyst, recognized for accurately predicting Bitcoin’s pre-halving correction last year, believes the leading cryptocurrency is primed for further growth after showing bullish signals across multiple time frames.

Rekt Capital states that Bitcoin has solidified its uptrend by turning a previous resistance level into a support zone on the three-month chart. Highlighting the $60,000 level as a key support in Q4 2024, Rekt Capital suggests BTC is now positioned to scale even greater heights.

The analyst described this development as a “post-breakout quarterly retest and trend continuation.”

On a shorter time frame, Bitcoin has surpassed the psychological resistance of $100,000, signaling what Rekt Capital calls “blue skies ahead” for the cryptocurrency. The analyst identified $101,165 as the next critical threshold, which Bitcoin has already closed above. At the time of writing, BTC is trading at $102,130, further cementing its bullish momentum.

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Shifting focus to altcoins, Rekt Capital pointed out a significant development in the OTHERS chart, which represents the total market cap of all cryptocurrencies excluding the top 10 assets and stablecoins.

According to the analyst, the OTHERS chart has found a local bottom around $315.57 billion, turning a previous resistance zone into a support area. Historically a point of rejection, this level now acts as a foundation for potential altcoin market growth.

Rekt Capital remains optimistic about both Bitcoin and the broader crypto market, suggesting that these recent developments may pave the way for further upward trends.

Alexander Zdravkov