Crypto analyst Rekt Capital sees BTC primed for a breakout, with 543,000 followers on X. First it needs to clear important resistance hurdles. The analyst believes that Ethereum is on the verge of a breakout similar to the one ETH experienced earlier this year. This possible increase depends largely on whether it can stay above $10,000. Rekt Capital regularly applies classic technical analysis to make their predictions and gain insights into what’s happening in the cryptocurrency market.
Rekt Capital’s technical analysis on the BTC/USDT at key price levels and recent history. On the BTC front, our analyst says we’re waiting for a clear breakout above an important descending resistance line. Additionally, Rekt Capital notes Bitcoin is approaching the 21-week EMA resistance, a move above which could signal a sustained rally.
On the subject of Ethereum, Rekt Capital underlines the significance of defending the bottom of a pre-2017 mild blue historical demand zone. According to a recent Rekt Capital analysis, just like Ethereum suffered some extreme price swings. It climbed to the ceiling of the light blue box, only to see that ceiling turn into fresh resistance, then fall below the box entirely. We at Rekt Capital strongly support keeping this level. If successful, it may position Ethereum for yet another explosive rally in the mold of what we experienced during the summer of 2023.
Rekt Capital has long been known for their astute crypto analysis on X. From macroeconomics, bitcoin, and ethereum to the overall crypto market and Web3, they run the gamut. Using technical analysis and by staying focused on key price levels, Rekt Capital shares his insights to help you stay one step ahead of the market. To be fair, the analyst’s views are always closely followed by many in the crypto community.
