A well-known crypto analyst thinks Bitcoin is on the verge of a big breakout. They say the recent price action looks textbook perfect, with Bitcoin breaking through a key resistance level and turning it into support.
Key Levels to Watch
The analyst, who goes by the name Rekt Capital, is keeping an eye on two crucial levels:
- $66,300: If Bitcoin closes the week above this level, it’s a good sign for the breakout.
- $67,900:
Closing above this level would be even more bullish.
Bitcoin is currently trading above $66,900, so things are looking good so far.
Bitcoin on Track for Halving Cycle
Rekt Capital also points out that Bitcoin is still on track for its halving cycle, even though it’s been consolidating for a while. Looking at past cycles, Bitcoin typically peaks around 500 days after the halving. This means Bitcoin could reach its peak in mid-September or mid-October 2025.
Disclaimer
Remember, this is just one analyst’s opinion. Crypto markets are volatile, and investing in Bitcoin carries a high risk. Always do your own research before making any investment decisions.
