A highly regarded cryptocurrency analyst shared what he called a "cheat sheet" to interpret price trends before the next Bitcoin (BTC) halving event. The analyst, pseudonym RektCapital, displayed a chart on social media platforms, showing that BTC's current price is within the expected range before halving
A highly regarded cryptocurrency analyst shared what he called a "cheat sheet" to interpret price trends before the next Bitcoin (BTC) halving event. The analyst, pseudonym RektCapital, displayed a chart on social media platforms, showing that BTC's current price is within the expected range before halving. This memo has sparked widespread attention and discussion in the market.
Speaking of the upcoming event of leading cryptocurrency Bitcoin halving, this investor shared his thoughts. According to analysts' charts, BTC is currently in a downward range and may still remain within the expected range before halving. The chart shows that after halving, the price level known as the resistance level initially did not change much, followed by a parabolic increase in BTC.
The next halving of Bitcoin is expected to occur in April 2024. Halving is an event that occurs every four years, resulting in a halving of Bitcoin mining rewards. Based on historical experience, prices usually begin to rise shortly after the end of a halving event.
The analyst also discussed the possibility of forming a bearish fractal pattern in the BTC price chart. He stated in his comments:
- If we had seen this bearish Bitcoin fractal before... perhaps we could see it again? Even if bearishBitcoinFractal formation... It may also activate one of the last bargain hunting opportunities before halving, preparing for a parabolic curve after halving.
This analyst stated that bearish fractal can actually provide profit opportunities for BTC investors. He cited LTC as an example, pointing out that after the recent halving event, LTC still maintains a solid fundamentals. The expert concluded his speech by stating:
- A short story At a lower level, the perfect viewpoint in the rebound before halving is rejected. Then there is a deep callback. When you lose this high level of support, there may be more negative emotions. LTC may still be looking for new absorption areas.
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