Cryptocurrency Rekt Capital, one of the well-known analysts in the world, shared some interesting evaluations about the Bitcoin (BTC) chart.
Analyst Rekt Capital Claims That Bitcoin Price Is Very Close To Bottoming
The analyst said that the Bitcoin price historically saw the bottom between 517 and 547 days before the next halving event:
“Historically, BTC tends to bottom 517-547 days before the next Halving event.
The next Halving will occur in about 500 days.
In 2015, BTC bottomed 547 days before the Halving.
In 2018, BTC bottomed 517 days before the Halving (excluding the March 2020 crash).
Bitcoin is currently about 500 days ahead of the upcoming April 2024 Halving…”
The analyst also claimed that the bear market for BTC is about to end:
“It has been nearly 400 days since the BTC Bull Market peaked at $69000.
This means that the Bear Market is nearing its end.
Historically, BTC Bear Markets find their absolute bottom about 365 days after the previous Bull Market peak.”
in 2015, #BTC bottomed 547 days before the Halving
in 2018, $BTC bottomed 517 days before the Halving (discount March 2020 crash)
Bitcoin is now approximately 500 days before the upcoming April 2024 Halving…#Crypto #Bitcoin
— Rekt Capital (@rektcapital) December 23, 2022
Analyst Rekt Capital also talked about the levels to watch out for in the BTC price in his opinion:
“BTC is still below the ~$17150 resistance.
A Monthly Close below $17150 will likely confirm this level as resistance and send $BTC back to ~$15400. In case of a retest of around $15,400, this place may not be able to hold up due to the weak reaction especially since November.”
*Not investment advice.
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