Bitcoin price breakout: Rekt Capital points out the critical support level

In the context of the volatile crypto market, Bitcoin continues to draw attention from investors and analysts worldwide. One of the notable recent viewpoints comes from renowned analyst Rekt Capital.

Bitcoin is in a transitional phase

According to Rekt Capital, Bitcoin is currently undergoing a "transition phase" that may lead to short-term price adjustments before continuing its growth trend. This analyst believes that in the near future, there may be some slight adjustments in the value of Bitcoin before the market returns to a strong upward trend.

One of the important factors that Rekt Capital emphasizes is the critical support level that Bitcoin needs to maintain.

"In the short term, we might still see a slight downward deviation. But right now, the important level to regain is at least $104,400. This is the support level that needs to be maintained. This price level has been firmly sustained for six, in fact nearly seven consecutive weeks."

The support level of $104,400, according to analysts, is not only an important technical threshold but also plays a decisive role in determining the next trend of Bitcoin. If Bitcoin can maintain this support level, Rekt Capital believes it will create opportunities for the value of Bitcoin to continue to rise in the near future.

Source: Rekt Capital## Resistance at $109,000: Breakthrough Opportunity

Rekt Capital also pointed out that if Bitcoin maintains and defends the support level of $104,400, this asset could aim to flip the current resistance area at $109,000 into a new support level. This would be an important step in the process of confirming the next bullish trend.

"Regaining the price area around 109,000 dollars and successfully turning it into support will be a sign for the transition into a new growth trend....

If we can break through here, and after confirming the breakout, there will be many weeks of strong price increases ahead...

According to the analyst's perspective, a breakthrough above the $109,000 level, if confirmed, will open up opportunities for a long-term bullish phase. This could lead to Bitcoin setting a new high price, even breaking past record highs.

However, one important factor that Rekt Capital emphasizes is the confirmation of the price breakout. The analyst warns that if Bitcoin only reaches this price level without confirming a true breakout, it will not create a sustainable positive shift in the market.

"What is really important is that the final price must confirm its breakthrough. And once that happens, we will have some time to enjoy the strong upward momentum, heading towards new all-time high prices."

With Bitcoin currently trading at 107,393 dollars at the time of writing, Rekt Capital believes that the market is at a crucial moment. Once the support level of 104,400 dollars is maintained and the resistance level of 109,000 dollars is broken, a strong and prolonged bullish trend may occur.

Annie