Elite

Bitcoin

Rekt

<p>Crypto analyst <a href="https://twitter.com/rektcapital/status/1714021717620687279" target="_blank" rel="noreferrer noopener nofollow">Rekt Capital</a> laid out specific criteria required for Bitcoin to invalidate its current bearish trend in a recent tweet.</p> 
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 <img decoding="async" loading="lazy" width="1024" height="726" src="https://captainaltcoin.com/wp-content/uploads/2023/10/image-420-1024x726.png" alt="" class="wp-image-357307" srcset="https://captainaltcoin.com/wp-content/uploads/2023/10/image-420-1024x726.png 1024w, https://captainaltcoin.com/wp-content/uploads/2023/10/image-420-300x213.png 300w, https://captainaltcoin.com/wp-content/uploads/2023/10/image-420-767x544.png 767w, https://captainaltcoin.com/wp-content/uploads/2023/10/image-420-1536x1089.png 1536w, https://captainaltcoin.com/wp-content/uploads/2023/10/image-420-2048x1452.png 2048w, https://captainaltcoin.com/wp-content/uploads/2023/10/image-420-140x100.png 140w, https://captainaltcoin.com/wp-content/uploads/2023/10/image-420-212x150.png 212w, https://captainaltcoin.com/wp-content/uploads/2023/10/image-420-100x71.png 100w, https://captainaltcoin.com/wp-content/uploads/2023/10/image-420-494x350.png 494w, https://captainaltcoin.com/wp-content/uploads/2023/10/image-420-788x558.png 788w, https://captainaltcoin.com/wp-content/uploads/2023/10/image-420.png 680w" sizes="(max-width: 1024px) 100vw, 1024px">
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<p>First, Bitcoin’s bull market support band must hold as support. Rekt Capital notes this box has held so far.</p> 
<p>However, Bitcoin has yet to register a weekly close above the key lower high resistance around $28,050. Doing so would represent significant progress towards a trend reversal.</p> 
<p>Finally, Bitcoin prices need to decisively <a href="https://twitter.com/rektcapital/status/1714026339370438997?t=1J6p8__CxJvafvSpLKihbw&amp;s=19" target="_blank" rel="noreferrer noopener nofollow">breach</a> the $31,000 yearly highs to confirm a definitive breakout. This level remains elusive for now.</p> 
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 <img decoding="async" loading="lazy" width="1024" height="726" src="https://captainaltcoin.com/wp-content/uploads/2023/10/image-421-1024x726.png" alt="" class="wp-image-357318" srcset="https://captainaltcoin.com/wp-content/uploads/2023/10/image-421-1024x726.png 1024w, https://captainaltcoin.com/wp-content/uploads/2023/10/image-421-300x213.png 300w, https://captainaltcoin.com/wp-content/uploads/2023/10/image-421-767x544.png 767w, https://captainaltcoin.com/wp-content/uploads/2023/10/image-421-1536x1089.png 1536w, https://captainaltcoin.com/wp-content/uploads/2023/10/image-421-2048x1452.png 2048w, https://captainaltcoin.com/wp-content/uploads/2023/10/image-421-140x100.png 140w, https://captainaltcoin.com/wp-content/uploads/2023/10/image-421-212x150.png 212w, https://captainaltcoin.com/wp-content/uploads/2023/10/image-421-100x71.png 100w, https://captainaltcoin.com/wp-content/uploads/2023/10/image-421-494x350.png 494w, https://captainaltcoin.com/wp-content/uploads/2023/10/image-421-788x558.png 788w, https://captainaltcoin.com/wp-content/uploads/2023/10/image-421.png 680w" sizes="(max-width: 1024px) 100vw, 1024px">
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<p>In summary, Rekt Capital believes Bitcoin is showing some early signs of reversing its bearish momentum. But several key milestones, especially a weekly close above $28,050, are required to validate this.</p> 
<p>Until these conditions are met, the analyst suggests exercising caution regarding a bullish breakout. Sustaining the recent recovery will depend on reclaiming crucial resistance levels.</p> 
<p>For Bitcoin bulls, the path forward involves meticulous invalidation of the prevailing downtrend. Rekt Capital’s criteria provide helpful guidelines for gauging the market’s progress on this front. Still, the ultimate verdict relies on price action confirming the indicators.</p> 
<p>With potentially significant resistance ahead, traders are watching whether Bitcoin can build enough upside momentum to decisively change the tides. The coming weeks will prove pivotal in determining the short-term trend.</p> 
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<p>The post <a rel="nofollow" href="https://captainaltcoin.com/elite-analyst-names-exact-price-bitcoin-needs-to-hit-to-invalidate-bear-market/">Elite Analyst Names Exact Price Bitcoin Needs to Hit to “Invalidate” Bear Market&nbsp;</a> appeared first on <a rel="nofollow" href="https://captainaltcoin.com">CaptainAltcoin</a>.</p>

Elite Analyst Names Exact Price Bitcoin Needs to Hit to “Invalidate” Bear Market

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