A closely followed crypto analyst says major technical signals are pointing towards a big breakout for Bitcoin ( BTC ).
Pseudonymous analyst Rekt tells his 340,000 Twitter followers that BTC’s monthly candle has broken through a major resistance.

According to Rekt, Bitcoin’s recent breakout looks similar to other moves in the past that historically preceded longer-term rallies.
“ Notice how BTC macro downtrend breakout candles have historically had upside wicks form (yellow circles).
This current monthly breakout candle looks no different.”
Source: Rekt Capital/Twitter
The popular analyst says the current monthly candle suggests that Bitcoin is in a position to confirm a new bull market by the end of March. Rekt also says that based on BTC’s current market structure, it’s likely the “calm before the storm” for Bitcoin.
“[This coming] Saturday, the BTC monthly candle will have closed above the macro downtrend to confirm a new bull market…
Only a few days left and BTC is still well in the clear to perform a bullish break of the macro downtrend and monthly close above the key resistance.
Short-term, some dipping in price could occur but mid- to long-term, BTC is setting up for a new macro uptrend.”
According to Rekt, Bitcoin is forming an inverse head and shoulders, a price pattern that traditionally suggests a slow trend reversal to the upside.
“BTC inverse head and shoulders played out exceptionally well.
BTC rallied +40% since perfectly tagging the ~$20,000 to form the right shoulder.”
Source: Rekt Capital/Twitter
At time of writing, BTC is trading for $27,764.
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The post Top Analyst Says Bitcoin in the Calm Before the Storm, Predicts Big Breakout Through Long-Term Resistance appeared first on The Daily Hodl .