The famous crypto analyst followed says that a top-five altcoin by market cap could rally higher if it breaks through a key resistance zone and turns it into a support zone. The pseudonymous analyst known as Rekt Capital told his followers on X, BinanceCoin If (BNB) turns the $340 resistance level into a support level, “the fireworks will truly begin” for the fourth-largest crypto asset by market cap. stated.
Koinfinans.com From Rekt Capital’s chart, it appears that Binance Coin has broken out of a descending triangle on the weekly chart and is firmly established above the hypotenuse of the pattern. While the descending triangle formation is typically bearish, a successful break above the hypotenuse indicates the beginning of an uptrend.
Binance Coin is trading at $320 at press time, up nearly 20% in the past week.
Following the analyst Bitcoin He also makes predictions for (BTC). According to the analyst, Bitcoin’s fourth halving, scheduled for April 2024, is “just over 100 days away.”
“Deeper pullbacks in the pre-halving period [Bitcoin için] The ultimate bargain will be purchasing opportunities.”
From Rekt Capital’s chart, it appears that Bitcoin has broken above the upper trend line of the ascending triangle, a pattern that typically signals bullishness. According to the same chart, Bitcoin experienced a significant correction just before the third halving in 2020 and, as a result, rallied above its all-time high in the same year.
Bitcoin is trading at $42,849 at the time of writing this news.