A well-known crypto analyst, known as Rekt Capital, is predicting that Bitcoin (BTC) is on track for a big jump in price this September.
Bitcoin Needs to Climb Back Up
However, there’s a catch. Bitcoin needs to break above $60,600 to make this happen. Right now, it’s trading around $57,239.
What’s a CME Gap?
Rekt Capital is focusing on something called a “CME Gap.” This is the difference between Bitcoin’s price on Friday and its price when the Chicago Mercantile Exchange opens on Monday.
Rekt Capital says that Bitcoin has closed these gaps in the past, and he believes it will do so again. He thinks Bitcoin could close the gap between $59,415 and $62,550 within the next two weeks.
What Happens If Bitcoin Breaks Through?
If Bitcoin manages to climb back above $60,600, Rekt Capital believes it will continue to consolidate within a range between $60,600 and $71,500. Any dips in price would just be buying opportunities.
Remember: This is just one analyst’s opinion. It’s important to do your own research before investing in cryptocurrencies.
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