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When analyzing the historical trends of Bitcoin, especially the pre-halving rally phase, it is necessary to reconcile some fundamental patterns. Analyst Rekt Capital puts forward some views at this point. Since Bitcoin has historically exhibited certain behaviors, these patterns need to be well analyzed. The analyst explains these patterns.
The Emergence of the Pre-Halving Rally
According to the analyst, the rally experienced before the halving typically signals the beginning of increased market activity and expectations on the road to the halving event.
Despite the excitement surrounding the pre-halving rally, Bitcoin usually struggles to move beyond the Macro Diagonal resistance level before the actual halving occurs.
Resistance in the Four-Year Cycle
According to the analyst, Bitcoin tends to encounter resistance around its Four-Year Cycle, and in this cycle, the resistance is located at approximately $46,000.
Taking these historical tendencies into account, analyst Rekt Capital suggests that during this period, Bitcoin could experience a limited rise in the Pre-Halving Rally phase while adhering to historical patterns. This controlled growth could prevent excessive market speculation.
The Upper Wick Formation
As seen in previous years, according to the analyst, Bitcoin’s upward momentum could result in an upper wick by the end of February. This phenomenon serves as a signal for a potential price correction.
Following the upper wick, Bitcoin may enter a consolidation phase in March, creating a trading range. This period could offer opportunities for the development of alternative cryptocurrencies.
Pre-Halving Correction
In the weeks before the halving event, Bitcoin may give back some of its gains from the Pre-Halving Rally phase, experiencing a pullback. This pullback serves as a natural correction before significant market events.
Following this trajectory, Bitcoin may temporarily surpass the Macro Diagonal barrier and remain below it at the end of the month in terms of Monthly Candle Closures. According to the analyst, this gradual rise will be in harmony with the evolving dynamics of the Pre-Halving period.
In summary, understanding Bitcoin’s historical tendencies provides valuable information for navigating the current market trajectory. Investors can make informed decisions to capitalize on emerging opportunities while reducing risks by anticipating possible scenarios and market behaviors. As analyst Rekt Capital points out, reconciling these historical patterns is very important for effectively interpreting the evolving landscape of Bitcoin.
