Top Analyst Predicts Break Down Of 3 Altcoins And BTC Rise

A crypto analyst that a lot of people pay attention to is pointing out a key price level that king crypto Bitcoin (BTC) must break through to keep going up.

Cryptocurrency trader Rekt Capital tells their 335,600 Twitter followers that Bitcoin must end the week above $23,744 for its upward trend to continue.

“BTC retest is now in progress

Ultimately, a Weekly Close above this key area is what BTC needs to achieve to break this confluent area of resistance to continue moving higher.”

Source: Rekt Capital/Twitter

Rekt claims that Bitcoin (BTC), which is now trading for $23,400, has to rise a bit more in order to validate its upward trend relative to the 200-week moving average (MA).

“BTC has performed a picture-perfect rejection at the 200-week MA

BTC needs to reclaim this MA as support to enjoy strong trend continuation.”

Source: Rekt Capital/Twitter

Next, the analyst looks at the utility token of the COTI payments infrastructure platform for decentralized finance (DeFi) (COTI). At the time of writing, COTI was worth $0.105. The analyst thinks the token can keep going up if it ends the week at the same level or higher.

“COTI has rallied +27% and is now positioned for a bullish Weekly Close above the red diagonal resistance.

Weekly Close above red and COTIUSDT will need to successfully retest it as support to enable further upside.”

Source: Rekt Capital/Twitter

Rekt then moves on to another popular token based on Ethereum (ETH), the decentralized data storage network Arweave (AR), which was worth $13.58 at the time this article was written. The trader says that AR needs to end the week above $13.11 for it to be clear that the stock is going up.

“AR is another Altcoin from my Altcoin Watchlist

AR has rallied +13% since breaking out from its green Bull Flag

AR has a chance at breaking out from its red Wedge

Weekly Close above red diagonal resistance would be a good sign.”

Source: Rekt Capital/Twitter

Last, Rekt talks about DUSK Network (DUSK), an ETH-based privacy network that was worth $0.246 at the time of writing. The recent drop in DUSK, according to the analyst, is a retest of support.

“DUSK / USDT

Now dipping towards the red level in an attempt a retest of it into new support

Successful retest and DUSK will enjoy a new rally

One of the Altcoins mentions in my Altcoin Watchlist.”

Source: Rekt Capital/Twitter

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