Bitcoin Enters Rally Phase as Time Runs Out: Insights from Crypto Analyst

By Daisy Hodley Feb 12, 202432Views

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A Crypto Analyst Believes Bitcoin is Entering a Rally Phase Ahead of the Halving

A well-known crypto analyst suggests that Bitcoin has entered a bullish phase as it approaches its halving event. The analyst, known as Rekt Capital, explains that Bitcoin’s bull markets can be divided into three main stages: the pre-halving rally, the post-halving resistance, and the post-halving parabola. According to Rekt Capital, BTC has now officially begun the first phase.

Rekt Capital also examines the Pi Cycle Top indicator, which focuses on two moving averages: a 111-day moving average (DMA) and a multiple of the 350-day moving average. The 111 DMA, which acts as support during bull runs, indicates that a market cycle top may occur around October this year. However, if BTC corrects before the April halving, the market top could be delayed.

As of now, Bitcoin is trading at $48,119.

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Daisy Hodley

Daisy Hodley emerges as a luminary blending the roles of crypto analyst, devoted researcher, and editorial virtuoso into a harmonious symphony. In the realm of digital currencies, Daisy's insights resonate with an exquisite resonance across a diverse spectrum of minds. Her adeptness in decoding intricate threads of crypto complexities seamlessly intertwines with her editorial finesse, translating intricacy into a captivating melody of understanding. A guiding star for both intrepid explorers and curious novices venturing into the crypto realm, Daisy's insights form a compass for discerning decision-making amidst the ever-shifting currents of cryptocurrencies. With the touch of a literary artist, they craft a narrative that enriches the evolving mosaic of the crypto landscape.