Bitcoin (BTC) on Cusp of a Breakout After Defeating Downtrend, According to Crypto Analyst

WikiBit 2025-04-14 22:39

Widely followed crypto analyst Rekt Capital says that Bitcoin (BTC) is right on the edge of a breakout based on classic technical analysis. The

Bitcoin Crypto

Widely followed crypto analyst Rekt Capital says that Bitcoin (BTC) is right on the edge of a breakout based on classic technical analysis.

The pseudonymous analyst tells his 543,000 followers on the social media platform X that BTC is in the midst of confirming a breakout after finally closing above a downward resistance line.

Says the trader,

Source: Rekt Capital/X

Zooming out to the weekly chart, Rekt Capital says that BTC needs to move above a critical exponential moving average (EMA) to boost its chances of a sustained rally.

Source: Rekt Capital/X

At time of writing, Bitcoin is trading at $84,463.

Looking at Ethereum (ETH), the second biggest digital asset by market cap, Rekt Capital says ETH needs to hold its current price range to have any shot at triggering a 2023-style rally.

Source: Rekt Capital/X

At time of writing, ETH is trading at $1,595.

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