Cryptocurrency markets are known for their constantly changing and complex nature. Achieving success and making profits in these markets is closely related to not only predicting price movements but also accurately analyzing and interpreting market trends. In this context, the views of analyst Rekt Capital attracted attention among investors.
Rekt Capital says Bitcoin has entered a rally period before the upcoming halving stated. This period generally refers to the time period when the price of Bitcoin enters an upward trend and signals the beginning of a broad bull market. According to Rekt Capital, which divides Bitcoin’s bull markets into three phases, these phases are: pre-halving rally, post-halving resistance, and post-halving parabola.
“Time is up. “Bitcoin has entered the rally phase before the halving.”
To support this claim, the analyst uses the Pi Cycle Top indicator, which focuses on multiples of the 111-day moving average (DMA) and the 350-day moving average.
The Pi Cycle Top indicator tracks the 111 DMA, which is considered a reliable support level, especially in bull markets. According to the analyst, the 111 DMA indicates that the market cycle top will be reached around October this year. However, the analyst adds that if Bitcoin’s price corrects by the halving in April, the market peak may come after that date.
“As for the orange moving average, it stands as support. The same thing happened in the 2020 halving event and now we are in the halving year, look at what is happening in this orange moving average right now. It stands as a support and it is the retesting of this area that will provide buying opportunities. So, we know that the 111-day moving average is a major moving average, and unless a major correction can occur, if we project these two moving averages into the future, this means we will reach the peak of the bull market around October. But around the pre-halving pullback, we tend to see corrections in Bitcoin’s price action, so a correction during this period will likely push this Pi Cycle moving average a little bit lower, and this will also mean that the moving average spread out here will bend down a little bit, which It means we will see that: In this case, the peak of the bull market may occur at a much later date.”
At press time, Bitcoin is trading at $48,165.
Such analyzes serve as an important guide for those who want to invest in cryptocurrency markets. However, investors should always be careful and not stick to a single analyst or indicator. Due to the nature of the market, prices can change very quickly and unexpectedly. Therefore, it is always important to adopt risk management strategies and do your own research.
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