Rekt Capital, a well-known crypto analyst, discussed Bitcoin and highlighted that the price movement of BTC is not yet fully established in the range. The expert stated the following on social media:
Another way to think about BTC charts… What if the high resistance of the range has not been found yet? A strong rejection of the price could lead to a deeper retracement in the period before the upcoming 175-day halving.
Rekt Capital also emphasized its plan for BTC’s progress:
Accumulate on a deeper retracement. Then accumulate again. Then you can continue holding.
As of the time of writing, BTC is trading at $33,924, showing a 14.5% increase in the past seven days.
In the latest issue of the altcoin newsletter, Rekt Capital mentioned that Solana, a strong competitor of Ethereum (ETH), is planning to complete its highest monthly candle close since April 2021. The analyst stated the following:
Recently, SOL was rejected below the $23.89 resistance after surpassing it. However, it is now seen that SOL has exited the range between approximately $20 and $23.89 and is directly moving towards the next region.
The expert concluded by suggesting that the range between $32 and $45 could be a support level for the popular altcoin:
This area has historically acted as a significant support zone. Now the question is: Will it act as a major resistance zone? It doesn’t necessarily have to be the case for strong supports to turn into strong resistances, especially if SOL can achieve significant candle closes within this range.