One of the top crypto traders and the pseudonymous strategist Rekt Capital recently shared his outlook about Bitcoin BTC/USD, Dogecoin DOGE/USD, and Ethereum ETH/USD as the crypto market attempts to bounce back.
On his Twitter feed, he said that Bitcoin must recover a crucial price area before the weekend is over to sustain its bullish momentum.
According to Rekt Capital, Bitcoin has broken out of a large reversal pattern on the weekly timeframe and is now retesting its previous resistance turned into support.
#BTC has broken out from its Ascending Triangle— Rekt Capital (@rektcapital) April 8, 2022
Now BTC is in the process of retesting the Ascending Triangle top as new support in an effort to fully confirm the breakout
Retest is in progress$BTC #Crypto #Bitcoin pic.twitter.com/coNU0XcuQB
At the time of writing, Bitcoin is trading at $42,765.34, up by 0.96% in the last 24 hours.
Talking about Dogecoin, he said that it could rally to nearly $0.28.
$DOGE / USD - #doge #dogecoin— Rekt Capital (@rektcapital) April 7, 2022
DOGE is still in the process of reclaiming the $0.14 Range Low as support (green)
That said, reclaim the green Range Low as support and DOGE will have confirmed a return to this +44%-wide range#Crypto https://t.co/KPnlGVDIk4 pic.twitter.com/cpzmx8QmR0
At the time of writing Dogecoin is trading at $0.1549, up by 8.14% in the last 24 hours and up by 6.38% in the last seven days.
Moving on to Ethereum he mentioned that it may retest the $3,000 area after failing to bust through a key resistance level.
“ETH has rejected from the blue $3,440 Monthly resistance. Therefore, a revisit of ~$3,000 (black) is now a possibility. It’s worth repeating that when black gets retested on a dip – wicks occur. So, if ETH dips to black, it could wick into the green higher low,” he said.
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