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- Here’s When Bitcoin Will Ignite New Parabolic Phase, According to Analyst Who Nailed Recent BTC Correction
Here’s When Bitcoin Will Ignite New Parabolic Phase, According to Analyst Who Nailed Recent BTC Correction
A crypto strategist who accurately timed the most recent Bitcoin correction is unveiling the timeline for the next BTC parabolic move.
Pseudonymous analyst Rekt Capital tells his 470,400 followers on the social media platform X that Bitcoin has entered the post-halving reaccumulation phase and may be months away from witnessing another steep upside move based on historical data.
“In 2020, Bitcoin performed a -19% retrace around the Halving.
And then consolidated for 160 days after the Halving before breaking out into the Parabolic Phase of the cycle (green).
In 2024, Bitcoin retraced almost -24% around the Halving.
And if history repeats, price could consolidate for up to 160 days before breaking out into the Parabolic Phase of the cycle (green).”
Looking at Bitcoin’s daily chart, the analyst highlights that BTC appears to have broken out of a bullish continuation pattern after retesting resistance at $66,000 as support.
“Trend continuation secured. Bitcoin Bull Flag breakout confirmed.”
Zooming out, Rekt shares a chart suggesting that the Bitcoin bull market still has a long way to go.
“We are here (green circle).”
At time of writing, Bitcoin is trading at $71,148, up 7.50% in the last 24 hours.
As for other crypto assets, Rekt says that fresh altcoin rallies are on the horizon.
“Welcome to the Q2 Altcoin Hype Cycle. Things are only just getting started.”
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