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Rekt Capital recently shared predictions regarding Bitcoin’s price movement following a significant correction in the past weeks. The analysis highlights the formation of a rising low pattern on the daily chart, suggesting that the market may have reached its bottom.
Bitcoin May Rise
According to Rekt Capital, Bitcoin 
$106,302 has begun to establish a rising low after a sharp correction around the $80,000 range. This development signals that the market might be hitting a bottom.
Rekt Capital: “It appears that a higher low has occurred.”
Corrections and Buying Opportunities
The analyst pointed out that Bitcoin has shown a notable upward trend even before completely filling the gap in the CME futures market around $70,000. Additionally, a different downward deviation was observed compared to last week’s low near $78,600, according to technical analysis.
Rekt Capital: “Bitcoin has shown a significant downward deviation compared to last week’s low.”
The 25% pullback in December parallels the current market movements, indicating a potential ordinary path compared to past corrections. Rekt Capital warned that these current corrections could create buying opportunities, but concerns over early drop signals might restrict participation in the upward trend.
Rekt Capital: “Early drop concerns hinder participation in the bull market.”
The crucial level for providing positive momentum on the weekly chart is noted at $93,500, with many significant developments expected on Friday generating excitement among traders. Bitcoin’s current price movements and chart formations may provide insights into a possible upward trend in the market.
