Bitcoin’s Pre-Halving Rally May Start Next Week, Says Analyst

Historical Data Points to Pre-Halving Rally Phase

  • Pseudonymous analyst Rekt Capital believes Bitcoin (BTC) could start its pre-halving rally next week.
  • Rekt Capital analyzed historical data and identified five stages in Bitcoin’s price action based on halving events.
  • The next halving is scheduled for April, and Rekt Capital believes Bitcoin is transitioning from pre-halving retracement to pre-halving rally.

Pre-Halving Rally Could Lead to Parabolic Uptrend

  • After the pre-halving rally, Rekt Capital predicts one more round of re-accumulation before a parabolic uptrend.
  • Bitcoin could rally well above $90,000 during this uptrend.

Bitcoin Attempts to Break Above Immediate Resistance

  • Bitcoin is currently trying to break above its immediate resistance at around $43,786.
  • Rekt Capital notes that Bitcoin has touched this level multiple times in the past two months.
  • If Bitcoin can break above this resistance, it could signal a weakening of the resistance.

Bullish Momentum Gathering for Bitcoin

  • Bitcoin’s relative strength index (RSI) indicator broke above its diagonal resistance, invalidating a potential bearish divergence signal.
  • A bearish divergence typically indicates a bearish reversal is in sight.
  • The new weekly close suggests that the bearish divergence has been invalidated, indicating bullish momentum.

Bitcoin’s Current Price

  • At the time of writing, BTC is worth $43,161, up 1.22% in the past 24 hours.