A crypto analyst and trader said Bitcoin (BTC) is in the final stages of consolidation before the halving in preparation for the next rally.
An analyst known by the pseudonym Rekt Capital told his 72,300 YouTube subscribers that Bitcoin is currently in a reaccumulation phase and will soon enter its final retracement phase before the halving.
According to the analyst, the re-accumulation phase and the pre-halving retracement phase are the last two stages investors can use to load up on Bitcoin before BTC surges after the halving, when miners' rewards are halved. That's what it means.
“These two phases are the biggest opportunities for Bitcoin. It's a stage.”
Rekt Capital states that BTC is likely to trade within the $10,000 price range during the re-accumulation phase.
“With the recent rejection from $70,000, the upper end of this re-accumulation range appears to be all but set in stone.
Now, only the question mark remains, where is the bottom of this reaccumulation range? This negative core [to around $62,000] That gave us an idea that the price would be around $60,000. ”
As for when a surge to new highs could occur, a pseudonymous analyst said:
“Whatever downside there is, it's going to be one of the last great opportunities before we get into what is essentially the last stage of the halving cycle, the post-halving parabolic upswing. .The parabolic rise phase after the half-life occurs many weeks or even months after the half-life.'' – Accumulation phase. ”
At the time of writing, Bitcoin is trading at $67,816.
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