The Daily Hodl
  • FEATURES
    • News
    • Bitcoin
    • Ethereum
    • Altcoins
    • Financeflux
    • Trading
    • NFTs
    • Blockchain
    • Futuremash
    • Regulators
    • Scams, Hacks & Breaches
  • HODLX
    • Latest Stories
    • FAQ
    • Submit Guest Post
  • INDUSTRY ANNOUNCEMENTS
    • Latest
    • Press Releases
    • Chainwire
    • Sponsored Posts
    • Submit Your Content
  • CRYPTO MARKETS
  • SUBMIT
    • Guest Post
    • Press Release
    • Sponsored Post
    • Advertise
No Result
View All Result
  • FEATURES
    • News
    • Bitcoin
    • Ethereum
    • Altcoins
    • Financeflux
    • Trading
    • NFTs
    • Blockchain
    • Futuremash
    • Regulators
    • Scams, Hacks & Breaches
  • HODLX
    • Latest Stories
    • FAQ
    • Submit Guest Post
  • INDUSTRY ANNOUNCEMENTS
    • Latest
    • Press Releases
    • Chainwire
    • Sponsored Posts
    • Submit Your Content
  • CRYPTO MARKETS
  • SUBMIT
    • Guest Post
    • Press Release
    • Sponsored Post
    • Advertise
No Result
View All Result
The Daily Hodl
No Result
View All Result

Analyst Says Bitcoin Multi-Month Downtrend Is Over, Hints at Renewed Upside for BTC

by Henry Kanapi
October 23, 2024
in Bitcoin, Trading

An analyst who nailed the pre-halving Bitcoin correction this year believes BTC is solidifying its odds of witnessing a trend shift soon.

Pseudonymous analyst Rekt Capital tells his 506,300 followers on the social media platform X is very close to stepping into bull territory after soaring above $69,000 last week.

According to the crypto strategist, the move marks the end of Bitcoin’s bearish trend that began in March.

BTC has weekly closed above the red resistance area above the channel top (black).

“Key takeaways:

• The multi-month downtrend is over

• BTC has broken out from its downtrending channel

• BTC may try to turn this resistance into new support.” 

Image
Source: Rekt Capital/X

The trader says that Bitcoin is one step away from successfully transitioning into a new bull market.

“The Bitcoin retest is very much underway now.

BTC is digging deeper and deeper into the old area of resistance (red) so as to turn it into new support (green).

Could go as low as the channel top (black).

Successful retest here -> renewed upside.” 

Image
Source: Rekt Capital/X

Rekt highlights that a confirmed Bitcoin bull market would be a rising tide that lifts all boats.

“Bitcoin is one historic breakout to new all-time highs away from kickstarting a new Crypto Money Flow Cycle.”

Image
Source: Rekt Capital/X

At time of writing, Bitcoin is worth $67,181.

Follow us on X, Facebook and Telegram

Don't Miss a Beat – Subscribe to get email alerts delivered directly to your inbox

Check Price Action

Surf The Daily Hodl Mix


 
Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

Generated Image: Midjourney

Submit a Press Release

Industry Announcements

  • FIFA Rivals Launches Worldwide, Bringing Non-Simulation Arcade Football Action to Mobile Devices
    June 12, 2025
  • Polemos Announces TGE and a Game-Changing Strategic Partnership With BUFF Accelerating Web 3.0 Adoption
    June 12, 2025
  • Bitpanda Opens the Gate to Web 3.0 With Vision (VSN)
    June 12, 2025
  • tBTC Launches on Starknet, Expanding Bitcoin’s Role in Multi-Chain DeFi
    June 11, 2025
  • Allnodes Launches Bare-Metal Servers for Solana Validators and Builders
    June 11, 2025
  • Falcon Finance Announces Custody Integration With BitGo for USDf Synthetic Dollar
    June 11, 2025
  • Interactive Strength Inc. (Nasdaq: TRNR) Enters Into $500 Million Facility To Acquire AI-Focused FET Tokens and Launch Crypto Treasury Asset Strategy
    June 11, 2025
Submit a Guest Post
ADVERTISEMENT
Bitcoin
$107,226.73
$107,226.73
1.95%
Ethereum
$2,629.34
$2,629.34
4.35%
BNB
$656.36
$656.36
1.3%
Solana
$156.85
$156.85
7.98%
XRP
$2.20
$2.20
2.08%

Spotlight

  • Analyst Says Bitcoin Has ‘Pretty Good’ Chance of Hitting Massive Price Target in 2026, Citing Three Technical Signals
    June 9, 2025
  • 36,659 Americans Warned As Data Breach May Have Exposed Names, Addresses, Social Security Numbers, Health Records, Bank Account Numbers and More
    June 9, 2025
  • Bitcoin Hoarder Stock Explodes on News of $5,400,000,000 Fundraising Plan for BTC Accumulation
    June 9, 2025
  • Rich Dad Poor Dad Author Warns ‘Civil War’ Has Begun, Calls for Saving Gold, Silver and Bitcoin for Protection
    June 9, 2025
DON'T MISS A BEAT
Crypto headlines delivered daily
to your inbox
BTC, ETH, XRP news alert options
By joining The Daily Hodl news list you agree to our
Terms and Conditions and Privacy Policy.
Featured Image: Shutterstock/Billion Photos

Covering the future of finance, including macro, bitcoin, ethereum, crypto, and web 3.

Categories

Bitcoin • Ethereum • Trading •
Altcoins • Futuremash • Financeflux •
Blockchain • Regulators • Scams •
HodlX • Press Releases

 

ABOUT US | EDITORIAL POLICY | PRIVACY POLICY
TERMS AND CONDITIONS | CONTACT | ADVERTISE

JOIN US ON TELEGRAM

JOIN US ON X

JOIN US ON FACEBOOK

COPYRIGHT © 2017-2025 THE DAILY HODL

No Result
View All Result
  • FEATURES
    • News
    • Bitcoin
    • Ethereum
    • Altcoins
    • Financeflux
    • Trading
    • NFTs
    • Blockchain
    • Futuremash
    • Regulators
    • Scams, Hacks & Breaches
  • HODLX
    • Latest Stories
    • FAQ
    • Submit Guest Post
  • INDUSTRY ANNOUNCEMENTS
    • Latest
    • Press Releases
    • Chainwire
    • Sponsored Posts
    • Submit Your Content
  • CRYPTO MARKETS
  • SUBMIT
    • Guest Post
    • Press Release
    • Sponsored Post
    • Advertise

© 2025 The Daily Hodl