Renowned Bitcoin analyst Rekt Capital has suggested that BTC could be on the verge of entering an explosive price phase. According to his latest market evaluation, if Bitcoin breaks above its current range in the coming weeks, it has a strong chance of reaching new all-time highs.
Recent Market Movements and Key Levels
Rekt Capital highlights that Bitcoin has frequently tested the $60,000 level in recent weeks. If this key resistance is broken, the analyst believes that BTC could be on a path toward $71,000 and possibly higher. He also notes that lower highs are continuing in the market, and once this trend breaks, Bitcoin could return to testing new resistance levels.
Halving and Cycle Peak Predictions
One major event on the horizon is the Bitcoin halving, set for April 2024. Rekt Capital predicts that based on historical cycles, Bitcoin could reach its cycle peak around March 2025, approximately 330 days after the halving. The analyst cautions, however, that after hitting these new all-time highs, holding digital assets may become increasingly risky.
Strategic Exit Points
Rekt Capital also shared insights into his investment strategy. He recommends reviewing positions around 250 days after Bitcoin surpasses its previous all-time high. Additionally, he plans to exit his positions by no later than 330 days after the halving, highlighting that the market may enter a risky 80-day period during this time.
The analyst advised, “Exiting too early, before 250 days have passed, may be premature,” emphasizing the importance of careful planning for investors.
At the time of writing, Bitcoin is trading at $65,906, having gained 5.41% in the past 24 hours. According to the analyst, Bitcoin is leaving a long accumulation phase and is gearing up for a parabolic rise.
Market Dynamics and Expectations
Rekt Capital’s analysis is based on current market trends and data from previous cycles. The Bitcoin market is known for its volatility, and both technical indicators and market sentiment should be closely monitored. Future price movements could prompt investors to rethink their strategies as the market evolves.
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Bitcoin, Rekt Capital, halving, price surge, accumulation phase
