Can BTC flip $29,700 to start a Bitcoin 'party'?
Continuing, popular trader and analyst Rekt Capital remained cool on the implications for BTC price strength on weekly timeframes.
“BTC is pressing beyond the ~$29250 level which is positive. But historically, we've seeing upside wicking beyond this level to the ~$29900-$30100 resistance area,” he“This time so far, $BTC has upside wicked to ~$30200. Bearish is the rejection is strong enough to push price down below ~$29250 and Weekly Close below there. However, if BTC would be able to dip into ~$29250 and hold it as support, that would be a more bullish price development.
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