A widely followed analyst says Bitcoin (BTC) has reached a critical support level, and what happens next will be very telling.
The analyst pseudonymously known as Rekt Capital tells his 561,600 followers on X that Bitcoin may have entered a historical re-accumulation zone in the $90,000 range – last seen about six months ago.
[adinserter block="1"]“Bitcoin is finding support at the historical demand area that supported the November 2024-February 2025 cluster in price action.
This area also acted as a re-accumulation zone in late April 2025, early May 2025. Needs to hold here for a rebound.”
He warns that Bitcoin will need to surpass the downtrend resistance level at around $103,000 to show strength.
“This historical demand area (orange) produced a +20% rebound the first time before breaking down. After breakdown, price absorbed buy-side liquidity at lower levels to the point where once Bitcoin reclaimed the orange area as support, price rallied +37% to new all-time highs. The support strengthened on second contact. Bitcoin is finding support at this very same demand area right now and the upcoming reaction from here will be very telling. Is this historical demand area weakening or is it strengthening?
The reality is that Bitcoin will need to break the multi-week downtrend (black) to assuage fears of a ‘weakening support’ here. Because a limited rebound from here to the black multi-month downtrend (only to get rejected there) would only yield ~+10% which would suggest that the support may be weakening.”
Bitcoin is trading at $92,400 at time of writing, up marginally on the day.
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