🚨 Major Alert: Bitcoin Price Nears New All-Time High! 🚀
Bitcoin (BTC) Price Downtrend Is Over, New ATH Soon?
Popular analyst Rekt Capital has noted early signs of reduced selling pressure for Bitcoin, with strong support forming at $60,000.
Following the release of the US CPI data on Wednesday, Bitcoin surged another 6%, reaching $66,000 earlier today. Currently, BTC is trading at $66,400 with a market cap of $1.304 trillion.
Key Breakout and Market Signals
BTC has achieved a crucial breakout above the $64,000 resistance, potentially paving the way for a rally to new all-time highs.
Rekt Capital's Analysis:
- The Bitcoin downtrend appears to be over, according to Rekt Capital.
- “The Bitcoin Bull Market is not over. The market will try to shake you out of your positions before significant profits can be made,” noted Rekt Capital.
- Early signs of diminishing sell-side momentum are emerging, with Bitcoin forming a gradual curl around the $60,000 support level.
- Sustained support at $60,000 is vital for the trend to continue upward. “BTC’s current breakout to $66,000 shows that it doesn’t take much to turn it all around,” he added.
Preparing for a New All-Time High?
Market analyst Peter Brandt believes Bitcoin is on its way to a new all-time high. To achieve this, BTC needs a decisive breakout above $67,000 with strong bullish momentum.
Alex Kruger’s Insights:
- Positive indicators for Bitcoin include:
- Stocks at all-time highs.
- Long rates and the dollar have topped.
- Bitcoin at $66K.
- Growing global economy.
- Fed Chair Powell’s dovish stance.
- Central banks preparing to cut rates.
- Quantitative tightening tapering is about to start.
Conclusion
Bitcoin's recent performance and key market indicators suggest that the downtrend is over and a new all-time high could be on the horizon. Keep an eye on BTC as it approaches the critical $67,000 level, which could signal further gains ahead.
❤️ Like | 💬 Comment | ↪️ Share 🚀
🔥 Please follow @Coinaute on Binance Square! 🚀🔥
- Website: coinaute.com
- Twitter: Coinaute EN
- Binance Square #coinaute
