Renowned crypto analyst Rekt Capital is optimistic about the potential for Bitcoin (
BTC
) to experience a significant rally in the coming days, drawing on historical patterns.
With a social media following of 475,500 on X, Rekt Capital suggests that Bitcoin is on the verge of a breakthrough that could mirror the substantial gains seen in 2020 and 2021.
“The stage is set for a groundbreaking moment in Bitcoin’s history.”
The analyst highlights that if Bitcoin confirms a breakout into the historical “parabolic phase” of the market cycle, it would happen earlier than in previous cycles.
“Bitcoin is poised to rewrite history. Not only would a breakout from this re-accumulation range propel the price into the parabolic phase of the cycle, but it would also mark the quickest post-halving re-accumulation breakout ever recorded.”
Rekt Capital also predicts that a parabolic Bitcoin surge could lead to a surge in altcoins due to increased market liquidity.
“A Bitcoin breakout would inject vital funds into the entire crypto market, sparking an altcoin hype cycle in Q2.”
At the time of writing, Bitcoin is trading at $69,208, experiencing a slight decline of over 1% in the last 24 hours.
Additionally, the analyst offers insights on dogwifhat (
WIF
), cautioning that a failure to maintain a crucial trendline as support could spell the end of the memecoin’s bullish trend.
“This trendline has been a key support since early March and is critical for WIF at this juncture. It is imperative for this trendline to hold to sustain the upward momentum. Every time WIF has struggled to breach the blue level [at $3.04] as resistance or failed to retest it as support, this trendline has come into play.”
At the time of writing, WIF is trading at $2.93, showing a decrease of 9.27% in the last 24 hours.
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