A popular crypto analyst thinks Bitcoin (BTC) is ready to climb higher after bouncing off a key support level.
Bitcoin’s Bullish Outlook
Rekt Capital, a well-known trader with over 480,000 followers on X (formerly Twitter), believes Bitcoin could surge past $71,000 over the Labor Day weekend. He says the recent dip to $65,000 and subsequent rebound indicate that Bitcoin is holding strong.
“Bitcoin successfully dipped into $65,000 and bounced back. Now let’s see if it rallies to $71,500. Bitcoin has a whole long weekend to do it,” Rekt Capital explained.
He also noted that Bitcoin is still in the early stages of its current bull cycle and historically tends to break out at this point.
Solana’s Potential
Rekt Capital also pointed out that Solana (SOL) has successfully retested its support level, suggesting it could climb back to $202, a resistance level it hit earlier this year.
“SOL: Looks like the Solana retest was successful. Continue to hold this red area as new support and SOL will be able to at least revisit the $202 resistance over time,” he said.
Disclaimer
It’s important to remember that this is just one analyst’s opinion. The crypto market is volatile, and prices can fluctuate rapidly. Before making any investment decisions, always do your own research and consult with a financial advisor.
