Bitcoin Analyst Predicts Pre-Halving Rally to Begin Next Week
Cryptocurrency analyst, Rekt Capital, has made a bold prediction that Bitcoin’s pre-halving rally could kick off as early as next week. Based on historical data, Rekt Capital believes that the upcoming halving event, scheduled for April, will trigger a bullish phase for Bitcoin. The analyst suggests that Bitcoin’s price tends to go through five stages during a halving, and the current phase is transitioning into the pre-halving rally.
Potential for Bitcoin to Surpass $90,000 After Pre-Halving Rally
According to Rekt Capital’s chart analysis, Bitcoin may experience one more round of re-accumulation before entering a parabolic uptrend after the pre-halving rally. The analyst suggests that this surge could potentially propel Bitcoin’s price well above $90,000. For now, Rekt Capital believes that Bitcoin is in a favorable position to surpass its immediate resistance level at around $43,786, as it has repeatedly tested this level in the past two months.
Strong Bullish Momentum for Bitcoin, Invalidating Bearish Divergence
Rekt Capital points out that Bitcoin appears to be gathering bullish momentum, as the relative strength index (RSI) indicator recently broke its downtrend resistance on the weekly chart. This breakout invalidated a potential bearish divergence signal, which typically indicates a reversal in price direction due to weakening bullish momentum. Rekt Capital suggests that this bullish momentum could further strengthen if Bitcoin continues to test resistance levels.
Current Bitcoin Price and Market Update
At the time of writing, Bitcoin’s price sits at $43,161, reflecting a 1.22% increase over the past 24 hours. Rekt Capital’s analysis provides insights into the potential next moves for Bitcoin as it approaches the upcoming halving event in April. Investors and traders will closely watch for any signs of a pre-halving rally and monitor Bitcoin’s performance against key resistance levels. As always, it’s important for individuals to conduct thorough research and exercise caution when investing in Bitcoin and other cryptocurrencies.
Analyst comment
Heading 1 and Heading 2 can be considered as positive news, as they suggest a potential rally and a possibility of Bitcoin surpassing $90,000. Heading 3 indicates a positive development in terms of bullish momentum. Heading 4 is neutral news providing an update on Bitcoin’s current price.
As an analyst, based on the given information, it is likely that the market will experience a bullish trend in the short term. Bitcoin’s price may increase, potentially surpassing $90,000, with a strong bullish momentum and a pre-halving rally anticipated. However, the market’s performance is subject to various factors and should be closely monitored.
