In the cryptocurrency market, the highly followed analyst Rekt Capital suggested that Bitcoin (BTC) is at a pivotal point historically preceding significant price increases. He supported this claim with the observation that Bitcoin enters a parabolic upward trend after surpassing previous peak points. According to the analyst, Bitcoin is currently in a phase that marks the beginning of past major rises.
Analyst Claims Bitcoin Has Entered a Critical Zone
The price chart shared by Rekt Capital shows that BTC successfully tested the critical threshold by taking support at the $65,000 level. The analyst predicts that Bitcoin will trade in a price range between $65,000 and $71,500 following this test.
At the time of writing, Bitcoin is trading around $69,600, just below the $70,000 threshold, indicating that the price is within the movement range predicted by the analyst. If the analyst’s expectation materializes and the largest cryptocurrency exits the region with a peak price of $71,500, a strong climb could be observed.
Solana Could Reach ATH by Testing $202
Touching on the altcoin market, Rekt Capital pointed specifically to Solana (SOL), which is shown as Ethereum’s (ETH) strongest competitor. The analyst expects Solana to retest the $202 level. This prediction is based on the altcoin successfully testing the previously broken support level.
At the time this article was prepared, SOL is trading at $189.08, showing potential movement towards the target mentioned by the analyst. According to Rekt Capital’s analysis, for the upward momentum in the altcoin to continue, the price needs to close above $202.84 on the weekly timeframe. Such a close could lead to the price reaching the all-time high region around $260.
