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Bitcoin's All-Time High Breakout Prediction by Crypto Analyst

Apr 2, 2024

A reputable analyst predicts that Bitcoin is very close to achieving an all-time high breakout. Rekt Capital, a popular analyst, suggests that Bitcoin has already initiated the breakout process by surpassing the resistance level of $69,000 at the end of March. To complete the breakout successfully, Bitcoin needs to convert this resistance level into support.

The analyst emphasizes the importance of maintaining a weekly close above the range high and possibly retesting it as support to confirm the breakout. By examining the analyst's chart, it is crucial for Bitcoin to avoid dropping below $65,596 on a weekly basis to accomplish a favorable retest.

Not only is Bitcoin in the spotlight, but the analyst also highlights several altcoins exhibiting positive trends. Solana, deemed as an Ethereum rival, is forming a bullish continuation pattern on the weekly chart. Solana appears to be developing a bull flag at its current highs post a successful support retest.

Regarding Dogecoin, the memecoin is primed for a potential rally above $0.30 after overcoming two high time frame resistance levels. A bullish monthly candle close has set a positive tone for Dogecoin.

Lastly, Litecoin's native asset seems to be on the rise as well. Litecoin's multi-month downtrend has concluded after breaching its multi-month diagonal resistance that persisted for approximately three years. With a monthly close above this downtrend, Litecoin's macro downtrend has been eradicated for the first time since April 2021. This signals a positive shift for Litecoin's future.

At present, Bitcoin is trading at $67,174, Solana at $190.03, Dogecoin at $0.203, and Litecoin at $98.18 based on the latest data.

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