The post Crypto Trader Says Bitcoin on Cusp of Price Discovery Phase, Sees Ethereum Attacking December Highs appeared on BitcoinEthereumNews.com.

The analyst who accurately called Bitcoin’s pre-halving correction last year believes BTC is on the verge of igniting rallies en route to new all-time highs. Pseudonymous analyst Rekt Capital tells his 546,700 followers on the social media platform X that Bitcoin needs to take out its last resistance area at around $105,000 to trigger a breakout into price discovery. “Can Bitcoin Weekly Close above the Range High of its recently reclaimed Re-Accumulation Range to kickstart the breakout process? Bitcoin is on the cusp of beginning Price Discovery Uptrend two.” Source: Rekt Capital/X In crypto trading, price discovery generally refers to an asset soaring to uncharted territory and new all-time high levels. With Bitcoin struggling to take out the resistance for now, Rekt says that BTC may need to first revisit a key level below $100,000 and flip it into support before the crypto king erupts. “That means that unless BTC is able to break $104,500 Range High resistance, then anything within that price range would be fair game [this] week. And if the Lower High needs to be turned into support (like in the Post-Halving period; blue circle), dips into $97,000 would satisfy that retest.” Source: Rekt Capital/X At time of writing, Bitcoin is worth $102,473. Looking at Ethereum, Rekt says that ETH has surged into a new trading range after last week’s 40% eruption. According to the trader, the doors are now open for ETH to attack its 2024 highs close to $4,000. “Ethereum [has printed a] Weekly Close in its $2,200-$3,900 Macro Range. Weekly Closes above $2,200 have historically set off uptrends across the Range (blue circle). Any dips, if needed at all, would solidify $2,200 as Range Low support.” Source: Rekt Capital/X At time of writing, ETH is worth $2,469. Follow us on X, Facebook and Telegram…

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Filed under: News - @ May 13, 2025 9:22 am