Bitcoin Breakout Is Reportedly Imminent – Key Price To Be Pivotal

The optimistic predicitons for the price of Bitcoin don’t seem to stop. Check out the latest one, which says that the price of the most important digital asset will be huge.

At the moment of writing this article, BTC is trading in the green, and the king coin is priced at $22,998.

It’s been just revealed that a popular crypto analyst stated the fact that Bitcoin (BTC) could continue its uptrend as he keeps a close eye on Litecoin (LTC) and three Ethereum-based (ETH) altcoins.

Pseudonymous trader Rekt Capital said recently that he expects BTC to continue rising as long its dominance level successfully retests a key level.

“A BTC Dominance monthly close above the range high resistance could set BTCDOM up for retest. Successful retest there and BTC Dominance would revisit the black wedge top for a decision on macro trend.”

On the other hand, he also notes that it’s possible for the king crypto to go the other way if it doesn’t close above its current resistance level.

“To ensure a higher chance of breakout, BTC should ideally monthly close above the blue ~$23400 resistance. Otherwise, BTC could set itself up for a dip inside this ~$20000-$23400 range to consolidate here for a few weeks.”

Addressing the altcoins as well, Rekt Capital first brings up the decentralized peer-to-peer network Litecoin. The Daily Hodl notes that he is saying that the BTC alternative is currently primed to spark a rally to the upside.

“LTC has broken out from its monthly flag. And with the monthly close just around the corner, it is well-positioned to confirm this breakout.”

In other recent news, we also revealed that the popular economist and crypto trader Alex Kruger is expressing bullish sentiment toward Bitcoin (BTC). Just recently, he has been saying that the king crypto could mount a massive rally in 2023. Check out our previous article in order to learn more.