Crypto analyst Rekt Capital has declared that Bitcoin (BTC) has exited the “danger zone,” a period where a drop below a certain range is possible. However, he warns that BTC could still experience a 13% dip from its current value.
Post-Halving Phases
According to Rekt Capital, Bitcoin typically enters the “danger zone” after a halving event, where miners’ rewards are halved. This is followed by a “post-halving reaccumulation” phase, where BTC trades sideways within a range.
Current Market Situation
After exiting the “danger zone,” Bitcoin surged to $71,500, but faced resistance at that level. Rekt Capital believes this consolidation will continue for several weeks between $60,000 and $70,000.
Historical Precedence
Based on historical data, Rekt Capital predicts that Bitcoin may not break out of the $70,000 range high until September. He notes that BTC has historically rejected the range high on its first attempt after a halving.
Conclusion
While Bitcoin has escaped the “danger zone,” investors should remain cautious. A 13% dip is still possible, and a breakout from the current range may not occur until September, according to historical patterns.
