A crypto strategist who precisely known as the pre-halving Bitcoin correction this yr believes BTC is present process a technically sound breakout course of.
Pseudonymous analyst Rekt Capital tells his 507,000 followers on the social media platform X that Bitcoin is within the strategy of flipping a key resistance degree into assist.
“The previous downtrend is now performing as assist.
Appears to be like like textbook post-breakout affirmation.”
The analyst says Bitcoin wants to shut the present week above two essential ranges to cement the breakout.
“A bullish weekly shut could be above ~$66,300 (black channel high).
A really bullish weekly shut could be above ~$67,900 (inexperienced field high).”
At time of writing, Bitcoin is buying and selling for $66,989.
Zooming out, Rekt Capital highlights that Bitcoin’s halving cycle remains to be inside schedule regardless of BTC’s lengthy consolidation interval.
He seems at historic information and notes that BTC is at the moment forward by greater than a month in comparison with different halving cycles.
“Within the 2015-2017 cycle, Bitcoin peaked 518 days after the halving.
Within the 2019-2021 cycle, Bitcoin peaked 546 days after the halving.
If historical past repeats and the following bull market peak happens 518-546 days after the halving, that might imply Bitcoin might peak on this cycle in mid-September or mid-October 2025.
At the moment, Bitcoin remains to be accelerating on this cycle by roughly 35 days or so.
So the longer Bitcoin consolidates after the halving, the higher it will likely be for resynchronising this present cycle with the normal halving cycle.”
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