Bitcoin Price Has Successfully Tested Important Support Zone! The Opportunity for Explosive Breakout Is Near

Bitcoin shows strong recovery signals after holding support zone

After weeks of volatility, Bitcoin (BTC) is showing positive signs of recovery as it holds onto an important support zone.

Famous analyst Rekt Capital commented that BTC has passed the correction phase and is entering a new "price discovery" phase , which means starting to enter a price zone that has never been established before.

According to him, a strong breakout could happen if BTC continues to maintain its current bullish momentum .

$104,400 Could Be Key to Further Uptrend
Rekt Capital said that if Bitcoin closes the weekly candle above $104,400 , it will be the fourth consecutive week that BTC has remained above the important demand zone , confirming a successful “retest”.

This shows that the market has finished re-accumulating and is ready for a new uptrend . He calls this a transitional phase before Bitcoin enters “Price Discovery Uptrend 2” – a bullish phase with no clear resistance.

Daily chart reveals potential near-term breakout
On the daily timeframe, the analyst points out that Bitcoin is breaking the two-week-old downtrend line and is showing signs of turning it into new support.

According to Rekt Capital, if BTC can close the candle and hold above the ~$106,600 zone , the uptrend will be more clearly reinforced.

This is an important signal for the market to confirm the next price increase , opening up the possibility that Bitcoin will continue to set new peaks in the near future.