Bitcoin Has ‘One Final Leg’ of Outperformance Before Altcoins See Boost, According to Crypto Analyst
A close crypto analyst followed that Bitcoin can have a last rally in small groups before Altcoins start to surpass the BTC.
The pseudonym analyst known as Rekt Capital tell Its 546,300 subscribers on the X social media platform that the Bitcoin Dominance metric (BTC.D) could soon peak, opening the doors of Altcoins to light upward explosive movements.
BTC.D calculates the share of market capitalization of BTC cryptography. A culminating Bitcoin dominance table suggests that altcoins are about to surpass the BTC.
“The domination of bitcoin has one last step in its macro trend on the road to 71% (red). Any plunge into 64% would be a retest. A successful retest would allow the final trend on the road to 71% (green box). ”
At the time of writing, the domination of Bitcoin is currently 64.82%.
Then the analyst said This bitcoin must contain a level of key support at $ 93,500 on the weekly graph to maintain an upward dynamic.
“Bitcoin has rejected low high resistance (black diagonal). In the future, Bitcoin will have to maintain the range of $ 93,500 to fully confirm the recovery of the beach.”
Finally, the analyst said Bitcoin can follow a similar model seen in April 2024 on the weekly graphic, finally reaching new peaks of all time if it takes place.
“This idea was explored for the first time in mid-October 2024 and ended up playing. It would be poetry if Bitcoin repeated history and followed on the same path in this current range as well. For the story to be repeated, BTC would need:
- Reject $ 99,000.
- Hold $ 93,500.
- Break $ 97,000 at $ 99,000.
- Reject $ 104,500.
- Hold $ 97,000 at $ 99,000 in support.
- Escape to new heights of all time. »»
Bitcoin is traded at $ 94,604 at the time of the editorial staff, down 1.1% in the last 24 hours.
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