Popular crypto analyst Rekt Capital, Bitcoin The price has started a pre-halving phase and may follow a historical pattern over the next two months. believes.
As Koinfinans.com reported, the historical model mentioned by the analyst says that after the BTC price rises, it may decline weeks before the halving event in April.
The analyst noted that Bitcoin could temporarily break above a key cross-resistance trend line, currently around $46,000, but remain below it on the monthly chart based on the historical price pattern.
The halving event in BTC means that miners’ rewards are halved every four years.
When analyzing Bitcoin’s historical trends, it is observed that the pre-halving rally phase has begun, but Bitcoin has historically struggled to move beyond the macro diagonal before the halving and has failed to overcome the four-year cycle resistance (~$46,000). To reconcile this situation, it is predicted that Bitcoin should exhibit a limited rise in the pre-halving rally phase.
This rise may result in an upward wick at the end of February, as in past examples. This process could create another price range at highs in March, allowing altcoin rallies to come to the fore. A few weeks before the halving event, Bitcoin is expected to complete this period by experiencing a pre-halving pullback. While this scenario provides a roadmap for how Bitcoin can manage its effort to move beyond the macro diagonal and its fight against four-year cycle resistance, it underlines a process that is slowly ending in the pre-halving period and indicates that it may remain below this process as of the month-end monthly candle closes. .
