**Bitcoin Nears Breakout After Repeated Resistance Tests, Says Crypto Analyst**

A well-followed crypto analyst has noted that Bitcoin is on the verge of confirming a breakout after consistently testing a crucial resistance level. Pseudonymous trader Rekt Capital, with a significant following of 504,000 on social media platform X, has indicated that Bitcoin needs just one more daily close to validate a breakout from a seven-month trading range.

Rekt Capital observed that Bitcoin has repeatedly pushed beyond the upper boundaries of the current resistance zone. According to the analyst, a single daily close above this red resistance area would position Bitcoin for a confirmed breakout. "Bitcoin just needs one Daily Close beyond the red resistance to position itself for a confirmed breakout from here. Daily Close is essential to confirm lack of upside wicks beyond resistance," Rekt Capital remarked.

As of this writing, Bitcoin is trading at $68,163, aligning closely with the price levels highlighted in Rekt Capital's analysis. Furthermore, the trader pointed out that Bitcoin exhibits a similar breakout setup on the weekly chart. "On the cusp of confirming a breakout beyond the multi-month Channel Top resistance. A Weekly Close just like this would be bullish," he added.

Taking a broader perspective, Rekt Capital referenced Bitcoin's historical performance surrounding previous halvings, times when Bitcoin miner rewards are cut in half. According to his analysis, Bitcoin typically consolidates around the halving event before climbing to higher prices in the following months. He illustrated this with a chart, marking the current position and indicating a likely progression to higher price levels.

Rekt Capital's insights suggest that Bitcoin may be poised for significant gains in the near future, pending the crucial daily and weekly closes that the analyst has emphasized.