AcloselyfollowedanalystwhocorrectlycalledBitcoin’spullbackearlierthisyearsaysBTCmaysoonentertheexplosivephaseofthemarketcycle.
Inavideoupdate,pseudonymousanalystRektCapitaltellshis91,000YouTubesubscribersthatBitcoinmaybreakthroughtheupperboundofatradingrangewithinweeksandprintnewall-timehighs(ATHs).
“We’reretestingthis[$60,000level]forafewweeksinarowandwe’retryingtopositionforamovetowardsthehighs[ofaround$71,000]here.
Andofcourse,wehaveaseriesoflowerhighstocontendwith,butoncewebreakthoseseriesoflowerhighs,andthere’sagoodchancewe’lldothatinthenextfewweeks,thenwe’llactuallyrevisitthisall-importantresistance[atthelow$70,000s]forachallengetofinallytransitionawayfromthere-accumulationphaseandintotheparabolicphaseofthecycle.”
Source:RektCapital/YouTube
Theanalystalsosuggeststhatbasedonpriorcycles,BitcoinmayreachitscycletopsometimearoundMarch2025,330daysaftertheApril2024halvingevent,whenminers’rewardswerecutinhalf.
“250daysafterwebreakoldall-timehighs,wellthat’sgoingtobetheearliestmomenttobeconsideringexitingthemarket,andatmost330daysafterthehalvingiswhenthatmomentshouldprobablycome.
Sowe’llhavean80-dayperiodwhereit’sgoingtobereallyriskytobeholdingdigitalassetsasawhole,butthat’sastoryforanotherdaybecausewehaven’tevenbrokenoldall-timehighs,butthat’sjustamatteroftime.”
Source:RektCapital/YouTube
Bitcoinistradingfor$65,906attimeofwriting,up5.41%inthelast24hours.
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