A crypto strategist who precisely timed the latest Bitcoin correction is unveiling the timeline for the subsequent BTC parabolic transfer.
Pseudonymous analyst Rekt Capital tells his 470,400 followers on the social media platform X that Bitcoin has entered the post-halving reaccumulation part and could also be months away from witnessing one other steep upside transfer based mostly on historic knowledge.
“In 2020, Bitcoin carried out a -19% retrace across the Halving.
After which consolidated for 160 days after the Halving earlier than breaking out into the Parabolic Part of the cycle (inexperienced).
In 2024, Bitcoin retraced virtually -24% across the Halving.
And if historical past repeats, value might consolidate for as much as 160 days earlier than breaking out into the Parabolic Part of the cycle (inexperienced).”
Taking a look at Bitcoin’s day by day chart, the analyst highlights that BTC seems to have damaged out of a bullish continuation sample after retesting resistance at $66,000 as assist.
“Pattern continuation secured. Bitcoin Bull Flag breakout confirmed.”
Zooming out, Rekt shares a chart suggesting that the Bitcoin bull market nonetheless has a protracted strategy to go.
“We’re right here (inexperienced circle).”
At time of writing, Bitcoin is buying and selling at $71,148, up 7.50% within the final 24 hours.
As for different crypto belongings, Rekt says that recent altcoin rallies are on the horizon.
“Welcome to the Q2 Altcoin Hype Cycle. Issues are solely simply getting began.”
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