Bitcoin Breaks Out from Accumulation Range
A well-known crypto trader believes that Bitcoin (BTC) has finally broken free from its accumulation range. Rekt Capital, a popular pseudonymous crypto analyst, informed his 366,900 followers on X that BTC is now heading towards the first significant resistance of the bull market.
“Several months later and BTC has completely broken out from its Accumulation Range,” Rekt Capital said. “This Accumulation Range [green] was calculated based on historical post-Death Cross retracement theory mentioned in the thread. Now at the first major resistance area (red).”
According to Rekt Capital, BTC has already covered 27.1% of the bull market’s journey. The digital asset is currently valued at $37,055, marking a 7% increase over the past week.
Litecoin Faces Crucial Turning Point Against BTC
In Rekt Capital’s altcoin newsletter, it’s revealed that Litecoin (LTC) is approaching a critical juncture in its trading against BTC (LTC/BTC). The analyst explains that LTC on its BTC pair has lost its blue range and is demonstrating early signs of transforming it into new resistance.
LTC is currently valued at 0.0019 BTC ($71.90), experiencing a 4% increase over the last week.
Hot Take: Cryptocurrency Market Update
Bitcoin has finally surged past its accumulation range and is now approaching significant resistance in the ongoing bull market. As for Litecoin, it is facing a pivotal moment in its trading against Bitcoin and could be on the verge of encountering new resistance.
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