Bitcoin

Rekt

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 A widely followed crypto analyst is keeping an eye on Bitcoin (BTC) while breaking down Chainlink’s (LINK) latest movements. 
 Pseudonymous crypto trade Rekt Capital&nbsp;tells&nbsp;his 354,700 followers on the social media platform X that BTC’s current price point is acting as a “point of reflection” for the largest crypto asset by market cap. 
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 “BTC&nbsp; 
 Acting as a point of rejection for the moment 
 Worth watching.” 
 <figure id="attachment_190710" aria-describedby="caption-attachment-190710" style="width: 100%" class="wp-caption aligncenter"> 
 <img decoding="async" class="wp-image-190710 size-full" src="https://thebittimes.com/image/getimage/?url=https://pbs.twimg.com/media/F7MuekiW0AExSJh?format=jpg&amp;name=large" alt="" width="1063" height="499"> 
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 Source: Rekt Capital/X 
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 BTC is worth $26,899 at time of writing, down 0.5% in the last 24 hours. 
 In the latest edition of the trader’s <a rel="noopener noreferrer nofollow" title="Category Altcoin News" href="https://thebittimes.com/altcoin-news.html">Altcoin News</a>letter, Rekt Capital&nbsp;shares what he calls a “short story,” told mostly in charts, about Chainlink’s recent price movements, resulting in a +44% since mid-August. 
 “Here is a short story on Chainlink:” 
 <figure id="attachment_190710" aria-describedby="caption-attachment-190710" style="width: 100%" class="wp-caption aligncenter"> 
 <img decoding="async" class="wp-image-190710 size-full" src="https://cdn.thebittimes.com/images/2023/09/30/4395c35ee3154b832b9bdb86ffa1888b.webp" alt="" width="1063" height="499"> 
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 Source: Rekt Capital 
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 “LINK then followed the red path…” 
 <figure id="attachment_190710" aria-describedby="caption-attachment-190710" style="width: 100%" class="wp-caption aligncenter"> 
 <img decoding="async" loading="lazy" class="wp-image-190710 size-full" src="https://cdn.thebittimes.com/images/2023/09/30/a888e9adece8f9ef0b1247224ae1468c.webp" alt="" width="1063" height="499"> 
 <figcaption id="caption-attachment-190710" class="wp-caption-text">
 Source: Rekt Capital 
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 “Then rebounded strongly from the Range Low, before embarking on a path to revisit the Range High resistance…” 
 <figure id="attachment_190710" aria-describedby="caption-attachment-190710" style="width: 100%" class="wp-caption aligncenter"> 
 <img decoding="async" loading="lazy" class="wp-image-190710 size-full" src="https://cdn.thebittimes.com/images/2023/09/30/8439641437679be1a40d86d784b24c5b.webp" alt="" width="1063" height="499"> 
 <figcaption id="caption-attachment-190710" class="wp-caption-text">
 Source: Rekt Capital 
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 </figure> 
 According to the trader, though LINK still hasn’t broken out of its macro downtrend, its price is currently positioned well to close the week above the trendline. 
 The trader says such a close would likely be retested, which could result in upward movement for LINK. 
 “A successful retest of the Downtrend would probably set price up for another revisit of the Macro Range High. 
 But it would only be upon Weekly Close and a successful retest of the Range High resistance as support that LINK would be able to confirm a breakout from its Macro Range.” 
 <figure id="attachment_190710" aria-describedby="caption-attachment-190710" style="width: 100%" class="wp-caption aligncenter"> 
 <img decoding="async" loading="lazy" class="wp-image-190710 size-full" src="https://cdn.thebittimes.com/images/2023/09/30/8e2235121ac1fec4b2b87311de628101.webp" alt="" width="1063" height="499"> 
 <figcaption id="caption-attachment-190710" class="wp-caption-text">
 Source: Rekt Capital 
 </figcaption> 
 </figure> 
 LINK is worth $7.83 at time of writing, up 15.6% in the last week. 
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Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/crypto-analyst-says-bitcoin-btc-is-worth-watching-dives-deep-into-chainlink-link-tbt64608.html">https://thebittimes.com/crypto-analyst-says-bitcoin-btc-is-worth-watching-dives-deep-into-chainlink-link-tbt64608.html</a>

Crypto Analyst Says Bitcoin (BTC) Is ‘Worth Watching’, Dives Deep Into Chainlink (LINK)

TheBitTimes

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