Bitcoin’s Bull Flag Break Raises Eyebrows — Here’s What Comes Next
A well-followed crypto analyst known for calling Bitcoin’s pre-halving dip last year is now tracking signs of a fresh upward phase for the market leader.
According to Rekt Capital, Bitcoin’s latest weekly close came in just above a key resistance level near $119,200 — a threshold he believes could act as the launchpad for another rally. With BTC finishing the week around $119,400, the stage may now be set for a bullish continuation, provided the price holds firm during an expected retest.
Rekt notes that while short-term dips may occur, maintaining this breakout zone as support is crucial for the uptrend to gain traction. At press time, Bitcoin trades slightly lower around $118,183 — not unusual during early-stage confirmation phases.
Shifting focus, the analyst also commented on Pudgy Penguins (PENGU), a memecoin that recently reached its highest weekly close. Despite the strong technical positioning, he expressed caution. Bearish divergences on the daily chart suggest that momentum may be fading — and unless PENGU shows renewed strength soon, its breakout could stall.
In summary, while Bitcoin appears to be laying the groundwork for another leg up, not all assets are in the clear — especially those showing early signs of weakness beneath the surface.
Alex is Editor-in-Chief of Coindoo and co-founder of Millennial Media Group, with nearly a decade of experience covering financial markets - crypto first, then everything else. It started in 2016 with Bitcoin. Like most people at the time, he didn't fully understand it - so he kept digging. Blockchain, tokenomics, the projects, the cycles. That curiosity never stopped, and eventually pulled him into traditional markets too: equities, commodities, macro. Not because he left crypto behind, but because you can't properly understand one without the other. What drives him is straightforward: he wants to know why something is happening, not just that it's happening. Most market coverage stops at the headline - price up, price down, here's a chart. Alex finds that kind of reporting actively unhelpful. If you walk away from an article without understanding the mechanism behind the move, what did you actually learn? He holds a degree in Tourism from New Bulgarian University - not the most obvious path into financial markets, but markets have a way of pulling in people who are simply too curious to stay out. He has authored over 200 in-depth analyses and more than 10,000 articles across crypto and traditional finance. He still thinks every day in markets teaches him something new. That's probably why he hasn't stopped.
