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Experienced Analyst Makes Big Bull Comment For Bitcoin (BTC): “The Time Has…
Experienced Analyst Makes Big Bull Comment For Bitcoin (BTC): “The Time Has Come, Rally Is Very Close!”
The popular analyst said that if history repeats itself, Bitcoin is about to take off.
Author:
Elif Azra Güven
24.09.2024 – 09:42
Update:
6 seconds ago
0
The rise in Bitcoin and altcoins following the FED interest rate cut excited investors, while rally expectations also increased.
Good news came from an analyst and if history repeats itself in Bitcoin, the price could experience a big rise.
The analyst, known as Rekt Capital, said that Bitcoin has broken out of the reaccumulation range that has historically ranged between 154 and 161 days after the halving.
Noting that 157 days have passed since the last halving in April, the analyst said that an upward break in Bitcoin is only a matter of time.
Citing historical data, the analyst pointed out that BTC broke out of the accumulation range 154 days after the halving in 2016 and 161 days after the halving in 2020.
“Historically, Bitcoin has broken out of the Reaccumulation Range 154-161 days after the Halving.
It has been 157 days since the last halving.
History shows that it is time to ‘Exit’ for Bitcoin.
According to historical data the analyst relies on, Bitcoin is expected to break out of the accumulation range again and break upwards within the next few days, namely this week.
Bitcoin, which reached its new ATH in March, has been on a downtrend since then. In order to make a new record, BTC needs to break its previous high of $73,700, which is only 14% away from the price.
#BTC
Historically, Bitcoin has broken out from its ReAccumulation Range 154-161 days after the Halving
It is 157 days after the Halving now
History suggests it is “Breakout Time” for Bitcoin
$BTC
#Crypto
#Bitcoin
https://t.co/Ydqlu4JKSf
pic.twitter.com/CwRvUYnHW0
— Rekt Capital (@rektcapital)
September 23, 2024
*This is not investment advice.
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