Renowned cryptocurrency analyst Rekt Capital is indicating that Bitcoin (BTC) is currently at a pivotal moment in its market cycle, which has historically been a precursor to significant upward movements.

The anonymous analyst, followed by 483,000 individuals on the social media platform X, suggests that BTC is at a critical juncture that has been seen in past chapters of Bitcoin’s history.

According to Rekt Capital’s chart, BTC typically experiences a parabolic surge after decisively surpassing its previous all-time high. The current position is indicated by a green circle on the chart.

Following a rebound from the $65,000 level, the analyst states that Bitcoin has now established this level as support and is expected to consolidate within a range between $65,000 and $71,000.

As of the time of writing, Bitcoin is trading at $68,946. In addition to Bitcoin, Rekt Capital is also monitoring the performance of Ethereum (ETH) competitor Solana (SOL) and foresees SOL retesting the $202 mark after successfully confirming a support level.

Currently, SOL is valued at $189.08. To stay informed on the latest cryptocurrency news, subscribe to receive email alerts directly to your inbox and follow updates on X, Facebook, and Telegram.

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