Bitget App
Trade smarter
Open
HomepageSign up
Bitget>
News>
Bitcoin Poised for Parabolic Surge if This Level Holds, Says Crypto Expert

Bitcoin Poised for Parabolic Surge if This Level Holds, Says Crypto Expert

Cryptodnes2024/11/07 04:44
By: Cryptodnes
BTC+0.23%REKT0.00%

Bitcoin has recently achieved a major milestone, rallying to new all-time highs after successfully filling a significant CME Gap, as noted by prominent cryptocurrency analyst Rekt Capital.

The price action has closely followed a predicted pathway outlined in the RC Newsletter three weeks ago, highlighting a positive shift for the leading digital asset.

Bitcoin Poised for Parabolic Surge if This Level Holds, Says Crypto Expert image 0

The latest price surge marks a successful retest of the May highs, which were previously set at around $67,500. This level has since transitioned from resistance to support, effectively acting as a springboard for Bitcoin’s new record-breaking highs. The fact that Bitcoin has managed to break through these key levels signals strength in its ongoing rally.

Looking ahead, Bitcoin is at a critical juncture. To confirm its transition from the reaccumulation phase into a parabolic upside phase, BTC needs to maintain a weekly close above the $71,500 mark. A sustained hold above this level would indicate that the market is prepared for further upward movement.

READ MORE:
Bitcoin Dominates Market as Altcoins Struggle to Keep Up

If Bitcoin can secure a monthly close around this level, it would set a historic precedent for the cryptocurrency. Analysts and investors alike will be watching closely to see if Bitcoin can maintain its momentum and continue to build on this newfound support around $71,500.

Bitcoin Poised for Parabolic Surge if This Level Holds, Says Crypto Expert image 1

For now, Bitcoin’s path appears bullish, but the key test will be whether it can hold above this crucial support level in the coming weeks.

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
PoolX: Earn new token airdrops
Lock your assets and earn 10%+ APR
Lock now!

You may also like

CandyBomb x ZBT: Trade futures to share 100,000 ZBT!
Bitget Announcement2025/10/17 13:30
Bitget Builder+ Initiative is now recruiting!
Bitget Announcement2025/10/17 11:00

Trending news

More
1
CandyBomb x ZBT: Trade futures to share 100,000 ZBT!
2
Bitget Builder+ Initiative is now recruiting!

Crypto prices

More
Bitcoin
Bitcoin
BTC
$106,680.49
+0.01%
Ethereum
Ethereum
ETH
$3,859.97
+1.67%
Tether USDt
Tether USDt
USDT
$1
+0.00%
BNB
BNB
BNB
$1,085.62
+1.05%
XRP
XRP
XRP
$2.34
+1.98%
Solana
Solana
SOL
$183.72
+0.41%
USDC
USDC
USDC
$0.9999
-0.02%
TRON
TRON
TRX
$0.3133
+1.27%
Dogecoin
Dogecoin
DOGE
$0.1864
+1.09%
Cardano
Cardano
ADA
$0.6275
+0.28%
How to sell PI
Bitget lists PI – Buy or sell PI quickly on Bitget!
Trade now
Become a trader now?A welcome pack worth 6200 USDT for new users!
Sign up now
Trade smarter