Popular crypto analyst Rekt says that technical signals bitcoin He stated that it signals a major breakout in (BTC) price. According to the analyst, BTC managed to break a major resistance on its monthly candle. This represents a very similar formation to the long rallies seen before.
Rekt is of the opinion that the current monthly candle is critical enough to confirm a new bull market for Bitcoin at the end of March. Referring to the current structure of BTC, the analyst said that this is almost “the calm before the storm”. in your opinion.
Next Saturday, the Bitcoin monthly candle will close above the macro downtrend to confirm a new bull market. Only a few days left and macro is strong enough to hold the monthly close above key resistance to make a bullish breakout in a downtrend.
NEWS CONTINUES BELOWThe price may drop a little in the short term but appears to be in a macro uptrend in the long term.
According to Rekt, Bitcoin is forming a “reverse head and shoulders” that signals a slow trend reversal to the upside.
BTC reversed head and shoulders played extremely well. BTC is up +40% since it perfectly tagged ~$20,000 to form the right shoulder.
You can follow the current price action here.