Bitcoin’s Wild Ride: Analyst Sees Bullish Signs 🚀💰

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Well, well, well, if it isn’t the great and powerful Rekt Capital, the crypto analyst with more followers than a hen has feathers, declaring that Bitcoin (BTC) is looking as bullish as a bull in a china shop after a successful retest of a strong support level. 🏭

Rekt Capital, the mysterious figure with 548,000 devotees on the social media platform X, is telling his flock that Bitcoin is gearing up to enter a “price discovery uptrend.” Now, for those of you who don’t speak analyst, this means the price of Bitcoin is about to venture into uncharted territory, where buyers and sellers will have to agree on a new value. 🧐

Rekt Capital lays out the roadmap:

“Bitcoin Price Discovery Roadmap:

Bitcoin is currently in a transitional phase.

Price is trying to successfully post-breakout retest its ReAccumulation Range to transition into Price Discovery Uptrend 2.

A volatile retest/deviation here could occur.”

According to Rekt Capital, if Bitcoin can close above $104,400 on the week, it will be a key signal that it has successfully retested the demand zone and is ready to shoot for the moon. 🚀

“The retest continues to be successful.

Can Bitcoin successfully confirm this retest with a Weekly Close above $104400 for what would be a 4th week in a row?”

Zooming in on the daily chart, the trader notes that Bitcoin needs to close above its immediate resistance and turn it into support to fully confirm a bullish continuation of the trend. 📈

“On the Daily timeframe, Bitcoin is showcasing signs of breaking its two-week Downtrend (light blue) while also turning it into support…

Daily Closing & retesting ~$106,600 (black) would be even better to enable trend continuation.”

At the time of writing, Bitcoin is trading at $105,528, which is about as exciting as a cat in a room full of yarn. 🐱✨

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2025-06-10 03:02