Bitcoin Nears Critical Resistance in Push for Record Levels

A prominent crypto analyst, known as Rekt Capital, suggests that Bitcoin could be on the brink of achieving new all-time highs, signaling the end of its current correction phase.

The analyst explained that Bitcoin might soon transition into a price discovery phase, where it trades at unprecedented levels.

He highlighted the emergence of a U-shaped reversal in Bitcoin’s price movements, a historical pattern often preceding significant rallies.

However, the analyst emphasized the importance of confirming this breakout. For a sustainable rally, Bitcoin must establish a weekly close above its previous all-time highs, solidifying its momentum and breaking through the critical $104,671 resistance level.

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If this resistance is breached on the weekly chart, the analyst predicts Bitcoin could begin a new upward trajectory, entering uncharted price territory.

“A weekly close above this major resistance,” he said, “could mark the beginning of a significant rally.”

Alexander Zdravkov

Alexander has been working in the crypto industry for three years, during which time he has established himself through his active participation in monitoring market dynamics and technological innovations. His interest in cryptocurrencies and new technologies is not just a professional commitment, but a deep personal passion. He follows the news in the sector daily, analyzes trends, and is excited about every new step in the development of blockchain solutions. His enthusiasm drives him to continuously learn and share knowledge, as he sees the future in digital finance and its role in global transformation.