A popular crypto analyst, Rekt Capital, is predicting big things for Bitcoin. According to their analysis, Bitcoin has broken through a significant resistance level, suggesting a period of rapid price growth is on the horizon.
Breaking the Downtrend
Rekt Capital, who boasts a large following on X (formerly Twitter), points to Bitcoin’s sustained price above $28,000 as a key indicator. This, they argue, confirms a successful break from a long-term downtrend and a flip of previous resistance into support. The analyst emphasizes that Bitcoin isn’t just breaking the trend, but is also holding above it for several days, a strong signal of the shift.
Entering the “Banana Zone”
Rekt Capital refers to the upcoming period as the “Banana Zone,” a term for the parabolic expansion phase Bitcoin typically enters after surpassing previous all-time highs. While expecting a significant price surge towards new all-time highs, the analyst anticipates some bumps along the way. This “bumpy” period is expected to involve at least two corrective phases before the final bull market peak.
What to Expect
The analyst’s prediction suggests a significant price increase for Bitcoin, although they acknowledge the possibility of some short-term corrections. Currently, Bitcoin is trading around $87,523. However, it’s crucial to remember that this is just one analyst’s opinion, and the cryptocurrency market is inherently volatile. Always do your own research before investing.
