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Here’s What Bitcoin Needs To Do To Confirm Bullish Breakout, According to Trader Who Nailed 2024 BTC Correction

by Catatonic Times
April 2, 2025
in Altcoin
Reading Time: 2 mins read
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A crypto analyst identified for precisely calling Bitcoin’s pre-halving correction final 12 months believes that BTC must reclaim a key technical indicator as assist to regain bullish momentum.

Pseudonymous crypto strategist Rekt Capital tells his 542,600 followers on the social media platform X that BTC seems to be mirroring its worth motion in 2021 when Bitcoin consolidated between two key exponential transferring averages (EMAs) on the weekly chart.

Based on Rekt, Bitcoin should convert the 21-week EMA into assist to set off the resumption of bullish worth motion.

“Earlier this week, Bitcoin rejected from the 21-week EMA resistance (inexperienced).

Because of this, Bitcoin continues to consolidate between these two Bull Market EMAs, very similar to it did in mid-2021.

Nonetheless, for the long run, the important thing affirmation sign for a breakout will likely be a weekly shut above the inexperienced EMA adopted by a post-breakout retest of it into new assist (gentle blue circle).”

Supply: Rekt Capital/X

At time of writing, Bitcoin is buying and selling for $82,536.

Wanting on the altcoin market, the dealer says he expects alts to proceed underperforming Bitcoin primarily based on the BTC dominance (BTC.D) chart, which tracks how a lot of the overall crypto market cap belongs to the flagship digital asset.

Based on Rekt, BTC.D might hit an important resistance stage that has remained intact since 2017 earlier than dropping steam. As soon as that occurs, Rekt predicts that an actual altcoin season will come to fruition.

“BTC Dominance.

If historical past repeats, the actual Altseason everyone is ready for would start as soon as Bitcoin Dominance rejects from 71% (pink).”

Image
Supply: Rekt Capital/X

A bearish BTC.D chart means that altcoins are rising in worth sooner than Bitcoin. At time of writing, BTC.D is hovering at 62.26%.

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Disclaimer: Opinions expressed at The Each day Hodl are usually not funding recommendation. Buyers ought to do their due diligence earlier than making any high-risk investments in Bitcoin, cryptocurrency or digital belongings. Please be suggested that your transfers and trades are at your individual danger, and any losses it’s possible you’ll incur are your accountability. The Each day Hodl doesn’t suggest the shopping for or promoting of any cryptocurrencies or digital belongings, neither is The Each day Hodl an funding advisor. Please be aware that The Each day Hodl participates in internet affiliate marketing.

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Tags: BitcoinBreakoutBTCBullishConfirmCorrectionHeresNailedTrader
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