Bitcoin To $40,000+ Soon?

Understanding the next opportunities that lie ahead

Welcome to the Rekt Capital newsletter, a resource for investors who want to better navigate the crypto markets with the help of cutting-edge crypto research and unbiased market analysis

Bitcoin - Weekly Timeframe

Last week, we discussed how this current dip for Bitcoin was a crucial one.

In the past, retests of ~$36150 (blue) would fail (i.e. early and mid-2021) whereas those that didn't fail yielded upside into at least ~$43200 (orange).

If BTC is able to hold here for more that a couple of weeks, then there's a chance the buy-side pressure here would be more sustained and this blue support would be able to act as a springboard to higher prices.

The failed retests of the past were verified quickly; price stability would go against that tendency and could contribute to a more bullish bias from here.

The longer BTC holds here, the better it will be for uptrend continuation.

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