Home Fear & Greed Pools Wallets Dictionary Advertise Facebook Twitter Telegram Reddit Youtube
Market Cap:
24h Vol:
Cryptocurrencies: 13285
Markets: 101540
CoinInsight360.com logo CoinInsight360.com logo
ENG
EST
RUS
TUR
DEU
CHI
KOR
ITA
USD
USD
AED
AFN
ALL
AMD
ANG
AOA
ARS
AUD
AWG
AZN
BAM
BBD
BDT
BGN
BHD
BIF
BMD
BND
BOB
BRL
BTN
BWP
BYN
BZD
CAD
CDF
CHF
CLF
CLP
CNH
CNY
COP
CRC
CUC
CUP
CVE
CZK
DJF
DKK
DOP
DZD
EGP
ERN
ETB
EUR
FJD
FKP
GBP
GEL
GHS
GIP
GMD
GNF
GTQ
GYD
HKD
HNL
HRK
HTG
HUF
IDR
ILS
IMP
INR
ISK
JMD
JOD
JPY
KES
KGS
KHR
KMF
KPW
KRW
KWD
KYD
KZT
LAK
LBP
LKR
LRD
LSL
LYD
MAD
MDL
MGA
MKD
MMK
MNT
MOP
MRU
MUR
MVR
MWK
MXN
MYR
MZN
NAD
NGN
NIO
NOK
NPR
NZD
OMR
PAB
PEN
PGK
PHP
PKR
PLN
PYG
QAR
RON
RSD
RUB
RWF
SAR
SBD
SCR
SDG
SEK
SGD
SHP
SLL
SRD
SSP
STD
STN
SVC
SYP
SZL
THB
TJS
TMT
TND
TOP
TRY
TTD
TWD
TZS
UAH
UGX
UYU
UZS
VES
VND
VUV
WST
ZAR
ZMW
ZWL
America's Social Casino

Market Cap
24h Vol
13285
Cryptocurrencies
63.64%
Bitcoin Share
The Daily Hodl 2025-05-08 19:55:57

Trader Says Bitcoin on Cusp of Breaking Out of Bearish Market Structure, Outlines Path to New Multi-Month High

Trader Says Bitcoin on Cusp of Breaking Out of Bearish Market Structure, Outlines Path to New Multi-Month High

A widely followed crypto analyst says that Bitcoin ( BTC ) is on the brink of breaking out of its bearish market structure, noting that it is on its way to its highest price tag since January. In a new thread, pseudonymous crypto trader Rekt Capital tells his 546,600 followers on the social media platform X that if the crypto king can stay above a key level, it could shoot up to $104,500 by the middle of June. “Bitcoin is on the cusp of breaking its downtrend dating to mid-December 2024 (black diagonal). Bitcoin just needs to stay above ~$98,700 for the retest of the week to position itself for a breakout towards $104,500 (red).” Source: Rekt Capital/X According to the trader, BTC is almost done with its first price discovery correction period, a time, he says, was an optimal time for investors to reaccumulate the flagship digital asset. “Bitcoin has almost concluded its first price discovery correction period. Granted, the corrective phase lasted longer than has historically been the case. But it didn’t change the fact that the correction was an optimal re-accumulation opportunity with a high probability of price reversal to the upside. Bitcoin is just below $100,000 right now.” In December, Rekt Capital noted that BTC’s price discovery correction phase was starting. The analyst goes on to say that, based on historical precedent, altcoin season should start in early 2025 after BTC dominance begins to falter around 71%. Currently, BTC’s dominance level, or the percentage of the total crypto market cap it takes up, is sitting at about 65%. “If history repeats, the real Altseason everybody is waiting for would begin once Bitcoin Dominance rejects from 71% (red) And right now, 71% is only ~6% away.” Source: Rekt Capital/X BTC is trading for $100,792 at time of writing, a 4.2% gain during the last 24 hours. Follow us on X , Facebook and Telegram Don't Miss a Beat – Subscribe to get email alerts delivered directly to your inbox Check Price Action Surf The Daily Hodl Mix Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing. Generated Image: Midjourney The post Trader Says Bitcoin on Cusp of Breaking Out of Bearish Market Structure, Outlines Path to New Multi-Month High appeared first on The Daily Hodl .

Most Read News

Moralis Money
Market Cap
24h Vol
63.64%
Bitcoin Share
814
Today News
Read the Disclaimer : All content provided herein our website, hyperlinked sites, associated applications, forums, blogs, social media accounts and other platforms (“Site”) is for your general information only, procured from third party sources. We make no warranties of any kind in relation to our content, including but not limited to accuracy and updatedness. No part of the content that we provide constitutes financial advice, legal advice or any other form of advice meant for your specific reliance for any purpose. Any use or reliance on our content is solely at your own risk and discretion. You should conduct your own research, review, analyse and verify our content before relying on them. Trading is a highly risky activity that can lead to major losses, please therefore consult your financial advisor before making any decision. No content on our Site is meant to be a solicitation or offer.