Bitcoin needs $59.1K weekly close amid doubt over BTC price all-time high

Bitcoin BTCUSD has a new minimum BTC price target for the week — but hitting it does not take all the pressure off bulls.

In his latest X coverage, popular trader and analyst Rekt Capital said that Bitcoin’s next weekly close must hit $59,000.

BTC price faces undefeated resistance hurdles

Bitcoin is doing its best to recover from a trip to six-month lows of $49,500 this week, but bears could easily reclaim control.

Analyzing the long-timeframe landscape on BTCUSD, Rekt Capital identified the potential for an enduring BTC price bounce, which would keep it in line with behavior since March’s all-time high.

“It has happened,” he wrote, referring to Bitcoin reversing upward right on target.