Making a green entrance to 2023 bitcoin It closed three consecutive days with a green candle. Continuing with the green candle today BTCIt broke above $16,800.
Popular cryptocurrency analyst as investors wonder if Bitcoin’s green move will continue Rekt Capital In his post on Twitter, he claimed that BTC has historically been very close to the bottom when compared.
Trying to find out whether Bitcoin has bottomed out compared to previous halving cycles, the analyst said that the current price of Bitcoin is very close to the bottom.
The analyst started his analysis since 2012. bitcoinHe numbered the loops of from 1 to 4.
In the chart prepared by the analyst BTC Candle number 2 always closed red. Except for the second candle, the candles were always green.
The analyst said that he expects Bitcoin to close the candles green in 2023, 2024 and 2025, according to the chart he prepared and the historical cycles of BTC.
According to the analysis of Rekt Cpaital, the 2nd candle represents bear markets, while the 3rd candle represents the year the bear market ends.
Analyst comparing the 3rd candle with the 4th candle BTC He stated that the 4th candles in his cycles threw a wick close to the previous candle, the 3rd candle, and said:
“If history repeats itself, the four-year cycle principles suggest that BTC could drop to just under $20,000 again in 2024.
If history repeats itself again, it means that in 2024, i.e. the next 4th candle, the bottom of the downward wick for Bitcoin could be $17,000 or $17,400.”
Rekt Capital, which presented data that the bear market is over in its previous posts, also stated that Bitcoin may exceed its all-time high next year.
#BTC candle-bodied bottom of Candle 3 ALMOST gets tagged via downside wick of the following Candle 4
Wick of 2016 Candle 4 was 10% away from candle-bodied bottom of 2015 Candle 3
Wick of 2020 Candle 3 was 6% away from candle-bodied bottom of 2019 Candle 3$BTC #Crypto #Bitcoin pic.twitter.com/vMCRKHchye
— Rekt Capital (@rektcapital) January 2, 2023
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