Bitcoin Breaking Bearish Trend Top Analyst Predicts Over 15 Upsurge

According to cryptocurrency trader Rekt Capital, Bitcoin (BTC) has broken the downtrend since June and returned to an upward trajectory.
The focus now is on establishing a strong price foundation that could potentially push BTC to $71,500 over time.
#BTC
Strong start to July as Bitcoin continues to develop its cluster of price action at the Range Low area (green)
Goal?
To build a foundation from which it will be able to springboard to the Range High area at ~$71500 over time
$ BTC
#Crypto
#Bitcoin
https://t.co/A2VKixFFp2
pic.twitter.com/40FEmVTscz
– Rekt Capital (@rektcapital)
July 1, 2024
Rekt Capital emphasized that Bitcoin has formed a new higher low on the weekly chart, signaling the end of the downtrend. On a broader scale, Bitcoin is developing a macro bullish flag pattern, indicating positive long-term prospects.
Additionally, Bitcoin is consolidating within the accumulation range often observed after previous halving events. This pattern shows bullish movement as Bitcoin aligns with traditional halving cycles.
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How Bitcoin is becoming the savior of the environment
At the end of the quarter, Bitcoin successfully tested and turned a key previous resistance near the $61,000 level into new support. Moreover, spot Bitcoin ETFs saw a net inflow of over $129 million on July 1, marking the largest inflow in three weeks.
Bloomberg analyst Eric Balchunas noted the positive net flows into Bitcoin ETFs over daily, weekly, and monthly periods, reflecting growing investor interest.