Bitcoin Could See More Upside After Bouncing From Major Support Zone, According to Trader – Here Are His Targets
A broadly adopted crypto analyst says that Bitcoin (BTC) may have additional upside after rebounding off a significant help zone.
In a brand new technique session, crypto dealer Rekt Capital tells his 483,300 followers on the social media platform X that the crypto king may shoot up previous $71,000 over the Labor Day weekend.
“Bitcoin successfully dipped into $65,000 and rebounded. Now let’s see if Bitcoin now rallies to $71,500. Bitcoin has an entire long weekend to do it.”
According to the dealer, since BTC held $65,000 as its help zone, it is going to proceed to keep in a worth vary of between $65,000 and $71,000 within the quick time period.
“The retest was successful. Bitcoin has confirmed $65,000 as support. Price will now continue to occupy the $65,000-$71,500 region (red).”
Rekt Capital goes on to note that the highest crypto asset by market cap is lower than midway completed with its present bull cycle and traditionally on the cusp of one other breakout.
“BTC Bull Market Progress: 41.4% (progress bar based on standard halving cycles).”
Bitcoin is buying and selling for $67,515 at time of writing, a 2.6% improve on the day.
The strategist concludes his evaluation by saying that good contract platform Solana (SOL) additionally had a profitable retest, which means that it may attain $202 as soon as once more, an space that served as resistance earlier this 12 months.
“SOL: Looks like the Solana retest was successful. Continue to hold this red area as new support and SOL will be able to at least revisit the $202 resistance over time.”
Solana is buying and selling for $181.36 at time of writing, a 6.7% improve over the past 24 hours.
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