Bitcoin’s Recovery on the Horizon
Crypto expert Rekt Capital predicts that Bitcoin could break out of its “danger zone” within the next two days. This prediction comes after weeks of speculation about Bitcoin’s price trajectory.
What is the “Danger Zone”?
Rekt Capital compares Bitcoin’s current price action to its behavior in 2016 after the halving. He notes that Bitcoin has been in a correction phase, creating a wick that extended below the re-accumulation range, similar to what happened in 2016.
Countdown to Breakout
According to Rekt Capital, Bitcoin has met the conditions of the “Post-Halving danger zone” and could exit it in just two days. This means that Bitcoin is likely to avoid a significant downward move and is poised for an upward trend.
Potential Price Surge
Rekt Capital’s chart analysis suggests that Bitcoin could surge above $180,000, representing a 200% increase from its current price. However, he does not provide a specific price target.
What’s Next for Bitcoin?
Currently, Bitcoin is trading around $60,000, down 4.7% in the past week. It has not yet reached the $70,000 level since early April. Historically, Bitcoin has experienced price increases between six to nine months after halvings. This suggests that Bitcoin could continue to fluctuate around $60,000 for a while, giving investors an opportunity to accumulate before a potential price spike.
