Bitcoin Gearing Up for New Price Discovery Uptrend Amid Successful Retest of Critical Support Level: Crypto Analyst
Widely followed crypto analyst Rekt Capital says that Bitcoin (BTC) looks bullish after successfully retesting a strong support level.
The pseudonymous analyst tells his 548,000 followers on the social media platform X that Bitcoin is attempting to move into a “price discovery uptrend.”
Price discovery often refers to a process when the price of an asset moves to uncharted territory, forcing buyers and sellers to seek agreement on value.
Says Rekt Capital,
“Bitcoin Price Discovery Roadmap:
Bitcoin is currently in a transitional phase.
Price is trying to successfully post-breakout retest its ReAccumulation Range to transition into Price Discovery Uptrend 2.
A volatile retest/deviation here could occur.”
