Bitcoin Nears Critical Resistance in Push for Record Levels

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Cryptodnes2025/01/25 05:11

By:Cryptodnes

A prominent crypto analyst, known as Rekt Capital, suggests that Bitcoin could be on the brink of achieving new all-time highs, signaling the end of its current correction phase.

The analyst explained that Bitcoin might soon transition into a price discovery phase, where it trades at unprecedented levels.

He highlighted the emergence of a U-shaped reversal in Bitcoin’s price movements, a historical pattern often preceding significant rallies.

However, the analyst emphasized the importance of confirming this breakout. For a sustainable rally, Bitcoin must establish a weekly close above its previous all-time highs, solidifying its momentum and breaking through the critical $104,671 resistance level.

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If this resistance is breached on the weekly chart, the analyst predicts Bitcoin could begin a new upward trajectory, entering uncharted price territory.

“A weekly close above this major resistance,” he said, “could mark the beginning of a significant rally.”

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

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The Block•2025/02/10 17:12