In a recent video titled “The Bitcoin Pre-Halving Rally – When & Where Will It End?”, popular crypto analyst Rekt Capital covered insights into the potential timing and price movements for Bitcoin’s pre-halving rally.
Historically, Bitcoin’s pre-halving rally tends to start about 60 days before the halving event. According to Rekt Capital, we are currently halfway through this rally phase, suggesting it kicked off slightly early this cycle.
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Show more +The video draws comparisons to previous halving cycles in 2016 and 2020. In 2020, a local top occurred 2 weeks pre-halving before a 20% retracement. In 2016, the local top was 28 days out, followed by a 29-40% retracement.
Danger Zone
Rekt Capital identifies a “danger zone” for this cycle 28-14 days before the halving. This time period carries risk of hitting a local top and retracing. Per historical data, there could still be a few weeks of rally left.
While significant upside has occurred, some retracement is expected. The video discusses using Pi Cycle moving averages to identify potential rejection points. A rejection from the 350-day moving average (doubled) could signal the end of the rally.
Final Thoughts
In conclusion, while short-term pullbacks are anticipated, Rekt Capital remains bullish on Bitcoin’s long-term trajectory. However, a pre-halving retracement in-line with historical norms should not be ruled out over the next few weeks.
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