Bitcoin Price in Parabolic Mode: Analyst Explains Why We Are Still Early

Written by Ohris M. Greyoon, Blockchain & Crypto Expert

Source: Coinmarketcap

Updated: Dec 03 2024

REKT-0.64%

BTC+2.628%

Should l Buy REKT?

Current Bitcoin Market Status: Bitcoin is trading at $95,300, having established support at $91,000 and is approaching its all-time high of $99,645.39, with a critical resistance level at $96,400 that could dictate its short-term trajectory.
Volatility and Future Outlook: As Bitcoin enters a parabolic phase, traders should prepare for potential volatility in the coming weeks, while the overall trend remains bullish despite historical patterns indicating possible corrections.

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Technical Analysis for REKT

Technical Sentiment Analysis for Rekt (rektcoin.com) (REKT) As of , Rekt (rektcoin.com) (REKT) is exhibiting a Neutral technical sentiment. Our proprietary analysis, which aggregates 6 technical signals, shows that 3 indicators are flashing buy, while 3 are indicating sell.

Momentum Indicators: RSI, MACD & Overbought/Oversold Status Currently, the Relative Strength Index (RSI) for REKT stands at -, which suggests a Neutral condition. Meanwhile, the MACD (12, 26) indicator is at -, providing a Neutral signal for short-term momentum. Other oscillators like the Stochastic Oscillator at - and the Commodity Channel Index (CCI) at - further confirm a - outlook for the stock.

Support, Resistance & Moving Averages From a structural perspective, REKT is trading below its 60-day moving average of $- and below its 200-day long-term moving average of $-. Key price levels to watch include the immediate resistance at $- and strong support at $-. A break above $- could signal a bull continuation, while falling below $- may test the next Fibonacci floor at $-.

Rekt (rektcoin.com) (REKT) Support & Resistance Level

Name	S3	S2	S1	Pivot Points	R1	R2	R3
Classic	0.000000047	0.00000011	0.000000167	0.00000023	0.000000286	0.000000349	0.000000406
Fibonacci	0.00000011	0.000000156	0.000000184	0.00000023	0.000000275	0.000000304	0.000000349

About REKT

Rekt Brands Inc. encompasses several different verticals spanning art, culture, media, NFTs, and physical goods:Rekt Drinks - Rekt Drinks is considered the official drink of web3. It boasts one of the largest web2 product launches from a web3 brand with 222,456 drinks (flavoured sparkling water) sold out at public launch across 32 different countries in under 48 hours. Rektguy NFT collection - a FREE mint launched in 2022 with over $120M of trading volume and a cult-like community, including holders such as Snoop Dogg, Steve Aoki, Bassjackers and Gary Vaynerchuk.Rekt Art - OSF is a former trader turned artist who has collaborated with Red Bull, Bybit, Ledger, Sotheby’s, Saatchi Gallery, House of Fine Art & more. Rekt Events - events held throughout the year including NYC, London, Paris, Miami, Lisbon, Dubai, Singapore, Las Vegas, Marfa & Taipei. Rekt Radio - a top crypto podcast produced by Rekt and Rug Radio, hosted by OSF, Mando and Keyboard Monkey. It features the biggest names in crypto including Raoul Pal, Beeple, Bitboy, Su Zhu, Ansem, RookieXBT, TraderMayne, Alex Wice, DCInvestor and more.$REKT will be the token that underpins this entire ecosystem, staying true to the project’s memetic routes, while allowing for holders to gain exclusive access to parts of the ecosystem as well as significantly expanding its membership.

About the author

Ohris M. Greyoon

Ohris M. Greyoon holds a Master’s in Computer Science from MIT and has 10 years of experience in blockchain technology and cryptocurrency markets. A pioneer in decentralized finance (DeFi) analysis, he leads Intellectia’s Crypto News, offering cutting-edge insights into digital assets.

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