Top crypto analyst says Bitcoin (BTC) is “on the cusp” of making history

Renowned crypto analyst Rekt Capital says Bitcoin (BTC) is about to make history with a major breakout to the upside.

Rect Tells His 341,000 Twitter followers BTC entered April above a key resistance to the downside, a trend line that has kept Bitcoin bearish since it hit an all-time high in November 2022.

“Tomorrow, the Bitcoin monthly candlestick will close above the overall downtrend confirming a fresh bull market

BTC is about to make history.”

Source: Rekt Capital / Twitter

Rekt too He says That BTC broke out exactly 396 days before the bitcoin halving, which is scheduled to take place in April next year. Halving is when the amount of newly issued BTC is cut in half.

He adds that in 2019, Bitcoin also broke out exactly 396 days before the 2020 halving.

He says ricket,

“BTC tends to break its overall downtrend about a year before the next halving

This time is no different.

Popular Analyst He says This other factor favoring Bitcoin is the fact that a quarterly bullish engulfing candle just closed on BTC. A bullish engulfing candle is when a green candle completely overlaps a previous red candle at both the opening and closing prices.

BTC is on the cusp of confirming its first quarterly engulfing candle since early 2020

Historically, quarterly bullish engulfing candles precede several quarters of the uptrend.”

Source: Rekt Capital / Twitter

At the time of writing, Bitcoin is trading for $28,409.

Don’t miss out – sign up to get encrypted email alerts delivered straight to your inbox

Check the price action

Follow us TwitterAnd Facebook And cable

Surf The Daily Hodl Mix

Check out the latest news headlines

& nbsp

Disclaimer: The opinions expressed on The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in bitcoin, cryptocurrency, or digital assets. Please be aware that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend buying or selling any cryptocurrency or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl engages in affiliate marketing.

Generated image: Midjourney
Shutterstock / Chuenmanuse

Leave a Reply

Your email address will not be published. Required fields are marked *