Bitcoin

Polkadot

The Graph

Rekt

<p>The price of Bitcoin has shown some signs of recovery after a downward slope since January 11th. The price seemed to meet a local bottom around $38,500 4 days ago and since then has moved up to $41,600. However, <a href="https://twitter.com/rektcapital/status/1750918082296414643?t=B3gLjakoqMv4HQ1i-E36tw&amp;s=19" target="_blank" rel="nofollow">Rekt Capital</a> doesn’t seem convinced that the price recovery is fully back on track yet.</p> 
<p><strong>Rekt Capital’s Take </strong><br>“BTC Great recovery as anticipated but Bitcoin needs to Weekly Close above the $41300 Range Low to rescue the range Nothing concrete just yet as this could technically be a brief upside deviation back inside the range Interesting weekend ahead”</p> 
<figure class="wp-block-image size-large">
 <img loading="lazy" decoding="async" width="1024" height="722" src="https://captainaltcoin.com/wp-content/uploads/2024/01/image-788-1024x722.png" alt="" class="wp-image-428791" srcset="https://captainaltcoin.com/wp-content/uploads/2024/01/image-788-1024x722.png 1024w, https://captainaltcoin.com/wp-content/uploads/2024/01/image-788-300x212.png 300w, https://captainaltcoin.com/wp-content/uploads/2024/01/image-788-767x541.png 767w, https://captainaltcoin.com/wp-content/uploads/2024/01/image-788-1536x1084.png 1536w, https://captainaltcoin.com/wp-content/uploads/2024/01/image-788-2048x1445.png 2048w, https://captainaltcoin.com/wp-content/uploads/2024/01/image-788-213x150.png 213w, https://captainaltcoin.com/wp-content/uploads/2024/01/image-788-100x71.png 100w, https://captainaltcoin.com/wp-content/uploads/2024/01/image-788-496x350.png 496w, https://captainaltcoin.com/wp-content/uploads/2024/01/image-788-788x555.png 788w, https://captainaltcoin.com/wp-content/uploads/2024/01/image-788.png 900w" sizes="(max-width: 1024px) 100vw, 1024px">
</figure> 
<p>Rekt Capital believes that while the recent uptick has been a great start, Bitcoin needs to see a weekly close above $41,300 for the recovery to be considered sustainable. If Bitcoin fails to close above this level, the rally could just be a temporary bounce rather than a true trend reversal.</p>  
<div class="wp-block-rehub-colortitlebox rh-colortitlebox" style="text-align:left;border-radius:5px;box-shadow:0 10px 10px #00000007;background-color:#fafafa;color:">
 <div class="rh-colortitle-inbox" style="background-color:var(--rehub-main-color);color:#fbfbfb;border-radius:5px 5px 0 0">
  <i class="rhicon rhi-bolt-regular rh-colortitlebox-icon" style="color:"></i>
  <div class="rh-colortitle-inbox-label">
   Transform Hundreds Into Millions With the Magic of Memecoins – think $BONK, but bigger!
   <img src="https://s.w.org/images/core/emoji/14.0.0/72x72/1f92b.png" alt="🤫" class="wp-smiley" style="height: 1em; max-height: 1em;">
  </div>
 </div>
 <div class="rh-colortitlebox-text">
  <style scoped>.rh-toggler-open{height:auto !important}
.rh-toggler-open .rh-tgl-show, .rh-toggler-open .rh-tgl-grad{display:none !important}
.rh-toggler-open .rh-tgl-hide{display:block !important}
.rh-tgl-show, .rh-tgl-hide{cursor:pointer}
.rh-contenttoggler *{box-sizing: border-box !important}
.rh-toggler-wrapper{overflow: hidden;transition: all 0.5s ease; padding-bottom: 35px; margin-bottom:30px;box-sizing: content-box !important;position: relative;}
.rh-toggler-wrapper p:last-of-type {margin-bottom: 0;}</style> 
  <div class="wp-block-rehub-contenttoggler rh-contenttoggler" data-height="100px">
   <div class="rh-toggler-wrapper" style="height:100px"> 
    <p>The key? Getting in early, especially during the IDO phase. <strong><a href="https://captainaltcoin.com/go/ll_inside/" target="_blank">Get in on NuggetRush</a></strong> now! This innovative memecoin blends play-to-earn gaming with real-world gold mining. Join soon to take advantage of the<strong><a href="https://captainaltcoin.com/go/ll_inside/" target="_blank"> current ICO prices</a></strong>!</p> <span class="rh-tgl-trigger" style="text-align:center;position:absolute;z-index:2;bottom:0;left:0;width:100%;color:"><span class="rh-tgl-show" style="display:block">Show more +</span><span class="rh-tgl-hide" style="display:none">Show less –</span></span><span class="rh-tgl-grad" style="background-image:linear-gradient(to bottom,rgba(255,255,255,0) 0,#ffffff 100%);display:block;position:absolute;height:100px;bottom:0;left:0;z-index:1;width:100%"></span>
   </div>
  </div> 
 </div>
</div> 
<p>This sets up an interesting weekend in the crypto markets as traders watch to see if Bitcoin can definitively move out of its recent range or if more sideways trading is ahead. Rekt Capital and other analysts will be monitoring the weekly close on Sunday to gauge the strength of the recovery.</p> 
<p>You may also be interested in:</p> 
<ul> 
 <li><a href="https://captainaltcoin.com/why-is-polkadot-dot-price-up-3/" target="_blank">Why Is Polkadot (DOT) Price Up?</a></li> 
 <li><a href="https://captainaltcoin.com/will-dogwifhats-wif-dethrone-bonk-as-top-solana-memecoin/" target="_blank">Will Dogwifhat’s WIF Dethrone BONK as Top Solana Memecoin?</a></li> 
 <li><a href="https://captainaltcoin.com/the-graph-grt-and-injective-inj-face-risks-of-further-decline-is-recovery-possible-meme-moguls-mgls-asserts-dominance-with-stage-5-presale/" target="_blank">The Graph (GRT) and Injective (INJ) Face Risks of Further Decline – Is Recovery Possible? Meme Moguls (MGLS) Asserts Dominance With Stage 5 Presale</a></li> 
</ul> 
<div class="bigofferblock margincenter mb30 pt20 pl20 pr20 " style=""> 
 <div class="col_wrap_two mb0"> 
  <div class="offerbox_big_wrap flowhidden"> 
   <div class="image position-relative text-center col_item mobileblockdisplay img-maxh-350 img-width-auto"> <a class="re_track_btn" href="https://captainaltcoin.com/go/ll_bottom/" target="_blank" rel="nofollow sponsored"> <img decoding="async" class="lazyload" data-skip-lazy="" data-src="https://captainaltcoin.com/wp-content/uploads/thumbs_dir/Copy-of-P2P-Review-17-qi3pqhl3pi3mlojv8nq0upz5rcb68rblc7kuvhcaou.png" width="500" alt="Check NuggetRush ($NUGX)" src="https://captainaltcoin.com/wp-content/themes/rehub-theme/images/default/blank.gif"> </a> 
   </div> 
   <div class="product-summary col_item mobileblockdisplay"> 
    <h3 class="product_title entry-title font150 lineheight25 mb30" id="a-class-re_track_btn-href-https-captainaltcoin-com-go-ll_bottom-target-_blank-rel-nofollow-sponsored-span-check-nuggetrush-nugx-span-a"> <a class="re_track_btn" href="https://captainaltcoin.com/go/ll_bottom/" target="_blank" rel="nofollow sponsored"> <span>Check NuggetRush ($NUGX)</span> </a> </h3> 
    <div class="rev_disclaimer font70 greencolor lineheight15 mb20">
     Sponsored: Invest Responsibly, Do Your Own Research.
    </div> 
    <div class="buttons_col mb25 rh_big_btn_inline"> 
     <div class="priced_block clearfix"> 
      <div> <a class="re_track_btn btn_offer_block" href="https://captainaltcoin.com/go/ll_bottom/" target="_blank" rel="nofollow sponsored"> Buy NUGX Today </a> 
      </div> 
     </div> 
    </div> 
    <div class="bigofferdesc">
     <i class="vertmiddle mr10 rhicon rhi-check-circle-solid greencolor font130"> </i>Being in its <strong>ICO stage</strong>, NuggetRush offers a prime opportunity for early investors to get in at potentially lower prices
     <br><i class="vertmiddle mr10 rhicon rhi-check-circle-solid greencolor font130"> </i>A unique <strong>play-to-earn</strong> gaming platform in the memecoin market
     <br><i class="vertmiddle mr10 rhicon rhi-check-circle-solid greencolor font130"> </i>The platform combines artisanal and <strong>gold mining</strong> with cryptocurrencies in an unusual gaming context, offering a distinctive and immersive experience
     <br><i class="vertmiddle mr10 rhicon rhi-check-circle-solid greencolor font130"> </i>Fosters a strong <strong>community </strong>by encouraging physical meetups among members
     <br><i class="vertmiddle mr10 rhicon rhi-check-circle-solid greencolor font130"> </i><strong>NFT</strong> Integration with Prominent Characters
    </div> 
   </div> 
  </div> 
 </div> 
</div> 
<p>The post <a href="https://captainaltcoin.com/bitcoin-recovery-still-in-question-despite-recent-uptick-btc-price-must-close-above-this-level-first/">Bitcoin Recovery Still in Question Despite Recent Uptick; BTC Price Must Close Above This Level First</a> appeared first on <a href="https://captainaltcoin.com">CaptainAltcoin</a>.</p>

Bitcoin Recovery Still in Question Despite Recent Uptick; BTC Price Must Close Above This Level First

Table of Contents

CaptainAltcoin

Other articles published on Jan 27, 2024

XRP Price Starts Its Uptrend And Holds Above $0.50

How to Buy, Sell, and Trade ERC-20 Tokens on the Ethereum Network

DeeStream (DST) Launches Presale Stage 1, MATIC and DOGE Holders Join In

Swifties Uncover Culprit Behind AI-Generated NSFW Taylor Swift Images

Intel Faces Challenges in AI Market, Stock Plummets Over 12%

Market Volatility: Predictions for Coinbase Shares and Bitcoin Prices

Join our free newsletter for daily crypto updates!