Lately, the cryptocurrency community has been focused on Bitcoin’s highly anticipated halving event. Many predictions have been made for the event, which is expected to take place in April 2024. Before this exciting event, trader Rekt Capital, one of the well-known names in the crypto world, announced an interesting strategy.
Rekt Capital’s strategy can be seen as a reflection of its trust and belief in Bitcoin:
“Bitcoin
My plan is to increase dollar cost averaging for the remainder of the Pre-Halving period in preparation for the post-halving parabola.”
Dollar cost averaging refers to an investor purchasing assets by investing the same amount of money at regular intervals. This strategy can help moderate fluctuations in asset prices and is considered a long-term investment strategy.
Rekt Capital also examined Bitcoin’s candlestick chart.
“Bitcoin
Cross candle 3 and
You will be rewarded with Candle 4 and Candle 1.”
A candlestick chart is a type of financial chart used to describe price movements of a security or currency. Each candlestick represents four important information about that period: opening price, closing price, whether it is bullish or bearish.
Bitcoin is trading at $26,623 at press time.
Rekt Capital also examined the popular cryptocurrency Dogecoin in a different post. The analyst claims that although DOGE has been on a downward trend for the past few weeks, a bullish divergence may still occur.
“As long as DOGE maintains the Channel Bottom as support as it has so far, this Bullish Divergence could very well occur and allow the price to revisit the Channel Top over time.
From a macro perspective, DOGE is strengthening inside this Channel until further notice.”
You can follow the current price movement here.