Bitcoin has recently achieved a major milestone, rallying to new all-time highs after successfully filling a significant CME Gap, as noted by prominent cryptocurrency analyst Rekt Capital.
The price action has closely followed a predicted pathway outlined in the RC Newsletter three weeks ago, highlighting a positive shift for the leading digital asset.
The latest price surge marks a successful retest of the May highs, which were previously set at around $67,500. This level has since transitioned from resistance to support, effectively acting as a springboard for
Bitcoin’s
new record-breaking highs. The fact that Bitcoin has managed to break through these key levels signals strength in its ongoing rally.
Looking ahead, Bitcoin is at a critical juncture. To confirm its transition from the reaccumulation phase into a parabolic upside phase, BTC needs to maintain a weekly close above the $71,500 mark. A sustained hold above this level would indicate that the market is prepared for further upward movement.
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If Bitcoin can secure a monthly close around this level, it would set a historic precedent for the cryptocurrency. Analysts and investors alike will be watching closely to see if Bitcoin can maintain its momentum and continue to build on this newfound support around $71,500.
For now, Bitcoin’s path appears bullish, but the key test will be whether it can hold above this crucial support level in the coming weeks.
