Compared Halving Cycles, Gave Price and Date for Bottoming in Bitcoin!

It fell to $ 18,230 in the morning hours. Bitcoin (BTC)With the opening of the US stock markets, it rose to $ 19,300 levels again.

Still above the June low of $17,626 bitcoinwill take place on Wednesday FED focused on the meeting.

Will there be a bigger bottom in Bitcoin? Will the $17,600 low be broken? popular while keeping the questions hot on the agenda cryptocurrency analyst Rekt Capital, He shared possible scenarios for BTC.

The popular analyst, who examines the bottom levels and dates of Bitcoin’s past bear markets, said that the BTC halving, which takes place every four years (halving) pointed.

“Bitcoin Bottom Will Happen in Q4!”

Analyzing the relationship between the halving and the bottom, the analyst BTCHe stated that the coin may hit the bottom 517-547 days before the halving, which will take place in April 2024, which means that the bottom may occur in the fourth quarter of 2022.

“In 2015, Bitcoin bottomed out 547 days before Halving. In 2018, Bitcoin bottomed out 517 days before Halving.

If Bitcoin is going to bottom 517-547 days before the upcoming April 2024 Halving, then the bottom will be in Q4 this year.”

in 2015, #BTC bottomed 547 days before the Halving

in 2018, $BTC bottomed 517 days before the Halving (discount March 2020 crash)

If Bitcoin is going to bottom 517-547 days before the upcoming April 2024 Halving…

Then the bottom will occur in Q4 this year#Crypto #Bitcoin

— Rekt Capital (@rektcapital) September 19, 2022

“$20,000 Turned into Resistance Level!”

Rekt Capital also wrote in its blog post, that the most important points to consider in BTC right now are the $20,000-23,350 range. BTC He said that the $20,000 support level is a sign of weakness.

“The recovery from the $20,000 support level this month has been so weak that it indicates that $20,000 has now turned into a resistance level.

Of course, a lot of things can change during the month, but the current price action tells a story that $20,000 could turn into a new resistance on the monthly timeframe.

However, if the price of Bitcoin really continues to the downside this month, the $20,000 support level will indeed turn into a resistance level.

This means that the next supports for Bitcoin are at $17,165 and $13,900.”

Finally, Rekt Capital, which examined the Death Cross, “Historical Death Cross analysis shows that Bitcoin will bottom below the 200-week moving average.” said.

of Rekt Capital Death Cross According to historical pullbacks and support levels in his analysis, Bitcoin price is bottoming out around $13,900.

In a more negative scenario BTC The price will bottom out at $11,500.

*Not investment advice.