The analyst who nailed Bitcoin’s pre-halving correction last year says BTC could be on the verge of printing new all-time highs.
The analyst is known as Rekt Capital He narrates It could be his 105,000 YouTube subscribers that Bitcoin is about to exit a corrective phase and enter another price discovery phase based on a historical pattern.
Crypto traders and analysts refer to price discovery as a situation where a coin is trading at levels that have never been seen before in its history.
“We’re already seeing this U-shaped reversal. So what is the confirmation signal that we need to see before we move into a second price discovery trend? Because this corrective period is pretty much over. We haven’t really made a sustained high. We’ve made higher highs.” “All-time highs, but I would love to see new all-time highs to show that this is sustainable and that we are going to continue to go higher. We need to see confirmation to break those old all-time highs and that final major resistance for the weekly time frame.”
The analyst says price discovery could spark once Bitcoin overcomes the $104,671 level on the weekly chart.
“The takeaway is very simple: a weekly close above this final major resistance and we could be off to the races.”
Bitcoin is trading for $103,621 at the time of writing.
https://www.youtube.com/watch?v=hhlperk4lew
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