Popular cryptocurrency analyst and enthusiast Rekt Capital has delved into the recent performance of Bitcoin (BTC) citing the beginning of a breakout process from a weekly range that could possibly lead to an upswing. Bitcoin Begins The Breakout Process Rekt Capital previously highlighted that Bitcoin has been wedged within a weekly range he dubbed Black-Black, ever since it witnessed about 18% correction. The candle-bodied peak from 2021 and the upside-wicking peak from 2021 basically created this weekly range. Related Reading: Can This Bullish Chart Pattern Propel Bitcoin Price To $75,000? He then claimed that regaining the $69,200 Range High for Bitcoin could indicate that the cryptocurrency is prepared to break out of the weekly range. Additionally, it might also signal the conclusion of the aforementioned pullback period. It appears the analyst’s forecast has come to pass as BTC has surpassed the $69,200 level, triggering a breakout activity. According to Rekt Capital, the first phase in the breakout process that Bitcoin has initiated is a Weekly Close above the Range High. However, before moving higher, BTC might need to dive into th ..
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