The Bitcoin price shows relative stability, which might indicate the beginning of a new growth phase, according to a renowned analyst.
Analysis by Rekt Capital
Well-known analyst Rekt Capital believes that Bitcoin has completed its first growth phase and is in a correction stage. Based on historical patterns, he suggests that Bitcoin might initiate a new growth phase in the coming weeks.
Key Levels for Bitcoin
The current market structure shows several critical levels. A descending trendline resistance has formed, but there is support that stabilizes Bitcoin's price around these levels.
Price Movement Prospects
Key resistance levels to watch are $101,165 and $106,148. The level at $97,700 could be decisive. A successful close above this mark might support further growth, while $96,235 and lower can serve as support.
Bitcoin continues to show stability, and analysts expect that the price might soon start a new growth phase if key levels are overcome.
