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Optimistic Analyst Unveils Key Bitcoin Price Support for Rebound in Early July
Renowned cryptocurrency analyst Rekt Capital outlined the crucial conditions for a potential upswing in Bitcoin’s value.
Article by:
Mete Demiralp
30th June 2024 – 12:16
Last Updated:
6 seconds ago
0
Rekt Capital, a prominent figure in the realm of cryptocurrency analysis, delineated the essential factors necessary for Bitcoin (BTC) to witness an uptick in its market value.
As per the analyst’s evaluation, a bullish trajectory could materialize if Bitcoin maintains its current price stability, akin to the pattern observed in recent days. According to Rekt Capital’s prognosis, if BTC manages to sustain its position at these levels, a breakthrough capable of reversing the prevailing downtrend could manifest during the initial phase of July.
The analyst stipulates that Bitcoin must cling onto the $60,600 threshold to realize this optimistic scenario.
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Rekt Capital underscored that ultimately, the price of BTC tends to retrace to a point where market participants begin doubting the continuity of the bullish market cycle before resuming its upward trajectory.
At the time of drafting this article, the BTC price stands at $61,419. Over the past week, a marginal decline of 4.63% was observed, aligning with the predicted support level of $60,600 highlighted by Rekt Capital.
Subsequently, subsequent to approaching this mentioned threshold, Bitcoin’s value surged substantially to its present position.
*Please note that this content does not constitute investment advice.
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