A “Cheatsheet” for Reading Bitcoin (BTC) Price Movements Ahead of the Halving
A trending cryptocurrency analyst has provided a helpful guide for interpreting Bitcoin (BTC) price movements as the next halving event approaches. Rekt Financial resources, a trending trader, has shared a chart on Twitter that indicates BTC’s current prices are within the expected range before the halving.
According to the chart, Bitcoin still has some room to fall and remain within the anticipated pre-halving range. The trader expects prices to at the beginning remain stable after the halving, followed by a parabolic rally for Bitcoin. The next halving is scheduled for April 2024, and historically, prices tend to rise after this event.
Rekt Financial resources likewise addresses the likelihood of Bitcoin forming a bearish fractal pattern on the price charts. Nonetheless, he implies that even if this occurs, it might present a chance for traders to buy at discounted prices before the post-halving surge.
As of now, Bitcoin is valued at $26,272. Looking at Litecoin’s recent halving event, Rekt Financial resources points out LTC is still finding its footing. The analyst predicts further downside for LTC if it loses support at a particular level and implies that it is searching for a new accumulation range.
At the time of publication, Litecoin is currently worth $63.76, showing a 1.6% increase in the last week.
Hot Take: Opportunities and Preparations for the Bitcoin (BTC) Halving
As the Bitcoin (BTC) halving event approaches, understanding price movements becomes critical for cryptocurrency traders. Rekt Capital’s “cheatsheet” provides valuable insights into BTC’s expected range and probable post-halving rally. Regardless of the likelihood of a bearish fractal pattern, the analyst sees it as a chance to purchase Bitcoin (BTC) at discounted prices before the parabolic surge. This information can guide traders in making notified decisions and maximizing their returns during this whole lot of event.
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