Insights Unveiled: Crypto Analyst Revisits Bitcoin Forecast and Charts Promising Trajectory for Polkadot (DOT)

Renowned crypto analyst Rekt Capital, with a substantial following of 394,700 on X. Provides an update on Bitcoin (BTC) and delves into the prospects of Polkadot (DOT). 

Highlighting a fresh rejection for BTC from the macro diagonal resistance. Rekt Capital emphasizes the significance of overcoming this hurdle for potential upward movement. Examining Bitcoin’s Relative Strength Index (RSI), the analyst notes a rejection forming a lower high. Signaling a need for RSI to break its downtrend for a price surge. Rekt Capital characterizes BTC’s current cycle as a “story of re-accumulation ranges,” particularly relevant as the flagship cryptocurrency approaches its next halving in April. 

Bitcoin is currently valued at $42,560, marking a 6.5% increase in the last week. Shifting focus to Polkadot, the analyst highlights a promising rebound of +12% for DOT in the new year, anticipating a monthly close above the green support area, paving the way for continued upward momentum along the envisioned blue path toward revisiting previous highs.

Clever Robot News Desk 2^nd February 2024