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Author: Godspower Owie

Bitcoin Déjà Vu: Analyst Identifies Trends Reflecting 2016 Cycle

Cryptocurrency analyst Rekt Capital has come up with an intriguing narrative pointing to several trends in the current price action of Bitcoin that are similar to the price trends seen in the 2016 bull cycle, even as market sentiments continue to dwindle. Bitcoin Trends Reiterating 2016 Pattern According to Rekt Capital, more than a month after the initial analysis, Bitcoin keeps demonstrating how much it closely resembles the cycle of 2016. Similar to 2016, Bitcoin has experienced further declines over the past three weeks following the Halving below the Range Low of its Re-Accumulation Range also known as the Post-Halving Danger Zone The post read: Over a month later Bitcoin continues to prove how it is more similar to the 2016 cycle. Just like in 2016, Bitcoin in this cycle is seeing additional downside below the Range Low of its Re-Accumulation Range in the three-week window after the Halving (i.e. Post-Halving “Danger Zone”). Given that Rekt Capital already addressed the concept of the Post-Halving Danger Zone, the analyst is not shocked by this current price decrease. During the 2016 cycle, about 21 days after the Halving event, BTC saw a lengthy decline of 11% before transitioning toward an upward direction. It is worth noting that Rekt Capital noted that if downside volatility around the Re-Accumulation Range Low is going to happen in this cycle, 2016 history indicates it may happen during the 15 days following the Halving. Since the recent event was concluded about 12 days ago, the expert’s prediction could be realized in the upcoming days. Related Reading: Bitcoin Enters Danger Zone Post-Halving, Analyst Warns Of Potential Downside While the Post-Halving “Danger Zone” ends in 15 days, 2016 data suggests that there may be some negative volatility in the interim, possibly reaching the $60600 Range Low. Drawing attention to previous patterns, Rekt Capital highlighted a similar pattern between the 2016 and 2024 pre-Halving re-accumulation range. After a breakout from the re-accumulation range this year, BTC witnessed a Pre-Halving rally, as was observed in 2016. Pre-Halving Retrace Movement Just like in 2016, once the pre-Halving rally peaked, Bitcoin started its Pre-Halving retrace. Specifically, this occurred roughly 28 days prior to the Halving event in both 2016 and 2024. Related Reading: Analyst Warns Of Bitcoin Pre-Halving Retrace Echoing Troubling 2020 Trend A negative wick on the weekly candle indicates a significant reaction in the first week of the pre-Halving Retrace in 2016. However, this reaction was fleeting and came before an extended price decline. This cycle likewise saw a strong early reaction from Bitcoin via a downward wick, but there are indications that this reaction might not have lasted long. Thus, to avoid a fate similar to that of 2016, Rekt Capital believes that BTC will need to maintain highs around $60,000 and beyond. Featured image from iStock, chart from Tradingview.com

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Crypto Analyst Warns Of Volume Drop That Could Trigger 60% Bitcoin Price Crash To $49,000

Author: Scott Matherson

United Kingdom

Source: NewsBTC

Apr 08, 2025 12:05

Crypto Analyst Warns Of Volume Drop That Could Trigger 60% Bitcoin Price Crash To $49,000

Crypto analyst Melika Trader has warned of a volume drop that could trigger a 60% Bitcoin price crash. The analyst provided an in-depth analysis of what this price crash could mean and if it would mark the end of the bull run. How The Bitcoin Price Could Crash By 60% And Drop To $49,000 In a TradingView post, Melika Trader revealed how the Bitcoin price could crash by 60% and drop to $49,000. The analyst noted that BTC is hanging just above a critical support zone, an area he claimed many traders recognize as the most important support level from a volume perspective on Binance. Related Reading: Analyst Says Bitcoin Price Has Entered The Ideal Buy Zone, Heres Why His accompanying chart showed that the Bitcoin price could suffer a 60% drop once it loses the former trend line at $75,000. The flagship crypto is also in danger, having lost the critical support at around $83,000. This drop to $49,000 would bring BTC back toward the high-volume range near $30,000. This provides an ultra-bearish outlook for the Bitcoin price. However, Melika Trader raised a twist, stating that only 20% of traders might actually lose. He noted that, according to Binances volume profile data, the majority of buying activity and position accumulation happened below $35,000. The analyst further mentioned that most long-term holders and smart money entered during the 2022/2023 accumulation range. The Volume Profile Visible Range (VPVR) is also said to show significant support below the current Bitcoin price, with minimal trading volume at higher levels. Melika Trader remarked that only a minority of traders bought BTC during its late-stage bull run above $70,000. Meanwhile, the majority of investors are still in profit or break-even, even if the Bitcoin price retraces back to its base. As such, most traders are safe, as BTC risks a drop to as low as $49,000. Why BTCs Bull Market Is Over CryptoQuants CEO, Ki Young Ju, recently asserted that BTCs bull market is over amid the Bitcoin price decline. He alluded to the Realized Cap metric to explain his confidence that the bull run is over. The CryptoQuant CEO noted that if Realized Cap is growing but Market Cap is stagnant or falling, it means capital is flowing in but prices arent rising. Related Reading: Why Buying Bitcoin Now Is Better Than Later As BTC Price Consolidates Within Falling Wedge Ki Young Ju noted that this is a clear bearish signal, and this is what is currently happening. Capital is entering the market right now, but the Bitcoin price isnt responding, which he claims is typical of a bear market. The CryptoQuant CEO explained that even large purchases like MicroStrategys arent pushing prices up because there is too much sell pressure at the moment. Ki Young Ju again affirmed that current data points to the Bitcoin price being in a bear market. He noted that sell pressure could ease anytime but warned that historically, real reversals take at least six months. As such, the CryptoQuant CEO believes a short-term rally seems unlikely. At the time of writing, the Bitcoin price is trading at around $77,000, down over 7% in the last 24 hours, according to data from CoinMarketCap. Featured image from Unsplash, chart from Tradingview.com

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Bitcoin Long-Term Outlook: Analyst Foresees Peak In Late 2025

Author: Godspower Owie

United Kingdom

Source: NewsBTC

Apr 30, 2024 12:05

Bitcoin Long-Term Outlook: Analyst Foresees Peak In Late 2025

Following the fourth Bitcoin Halving, Rekt Capital, a popular cryptocurrency trader and expert, has offered a compelling narrative on the future trajectory of Bitcoin, predicting that the crypto asset could peak this bull cycle in the following year. Rekt Capital’s analysis emphasizes on the possibility that this current cycle could reiterate past Halving cycle trends, positioning BTC for significant gains in the coming months. Bitcoin Could Mirror Past Halving Cycle According to the analyst, Bitcoin reached its all-time high within 518 days following the Halving in the 20152017 cycle. Meanwhile, after the event in the 2019-2021 bull cycle, the digital asset topped out within 546 days. This suggests that the event has always catalyzed massive growth for the leading cryptocurrency asset. Related Reading: Legendary Trader Predicts When Bitcoins Bull Run Will End Should the past trend hold, the next bull market top might happen between 518 and 546 days following the recently concluded fourth Halving, particularly around the middle of September or middle of October in 2025, according to Rekt Capital. The analyst noted that in this cycle Bitcoin is accelerating by about 220 days currently. Thus, the longer time BTC consolidates after this Halving, it will be better for resynchronizing this current cycle with the previous events cycle. Rekt Capital also noted that Bitcoin has experienced further declines in the three weeks after the Halving, according to historical data from 2016. He has labeled the period as the Post-Halving “Danger Zone,” this is where there is a chance of downside volatility at the range low of the Re-accumulation Range. In 2016, approximately 21 days after the occurrence, Bitcoin saw a lengthy -11% decline before gaining momentum toward the upside. However, data for 2016 indicates that if there will be downside volatility in this cycle around the Re-Accumulation Range Low, it may happen during the following 15 days. Although the post-Halving danger zone ends in 15 days, the 2016 data indicates that there may be some negative volatility in the interim, possibly reaching the $60,600 Range Low. Parabolic Phase For BTC It is worth noting that Rekt Capital anticipates a parabolic phase after the re-accumulation phase is concluded. During this stage, Bitcoin usually sees massive growth leading all the way up to a new all-time high. Related Reading: Bitcoins Next Move Revealed: Trading Guru Reveals This Cryptic Chart Pattern, Heres What It Says In the previous Halvings, Bitcoin would historically consolidate in this Re-Accumulation Range for up to 150 days before ultimately entering a parabolic phase. Once BTC breaks out of this re-accumulation stage, Rekt Capital expects BTC to see a parabolic upside by September this year if it consolidates within the aforementioned timeframe. At the time of writing, BTC was down by over 5% in the past 7 days and was trading at $62,504. Presently, its market cap is down by 1.53%, while its trading volume has increased by over 22% in the last 24 hours. Featured image from iStock, chart from Tradingview.com

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Bitcoin Halving RoadMap: Analyst Outlines 3 Phases For Market Dynamics

Author: Godspower Owie

United Kingdom

Source: NewsBTC

Apr 13, 2024 12:05

Bitcoin Halving RoadMap: Analyst Outlines 3 Phases For Market Dynamics

Bitcoin is now hovering around the $70,000 threshold after a notable recovery it witnessed a few days ago. Due to the recent momentum, crypto enthusiasts are becoming less pessimistic about the digital asset’s growth prior to the halving event. With the fast approaching much-anticipated Bitcoin Halving, Rekt Capital, a well-recognized cryptocurrency analyst and aficionado, has offered his market insights mapping out three distinct stages of the event for investors. 3 Distinct Aspects Of The Bitcoin Halving Rekt Capital’s analysis delves into Bitcoin‘s movement before and after the halving takes place, which is expected to happen this month. In the seven days leading up to the occurrence, the crypto analyst underscored three stages to observe for a successful outcome. Related Reading: Bitcoin To $150,000 Is Programmed With Halving Approaching: Analyst These three phases include the final pre-halving retrace, the re-accumulation phase, and the parabolic uptrend phase. Emphasizing on the first aspect, Rekt Capital noted that the pre-halving retrace is documented in the books and has already manifested. During this period, Bitcoin experienced an 18% pullback compared to 2016 and 2020’s retracement of 38% and 19%, respectively. The expert believes that the concluded pre-halving Retrace was the last chance to purchase a deal during the pre-halving phase. Following the conclusion of the retrace, Rekt Capital has confirmed the development has laid the groundwork for the Re-accumulation range. It is important to note that the aforementioned range occurs a few weeks ahead of the halving, and it ends with a breakout from it a few weeks later. Specifically, the period could last for several weeks and up to 150 days or five months. Given the manifestation of the range, sideways movement through the halving and beyond is the major purpose of BTC. Thus, the analyst has stressed the need to be patient around this phase, as many investors get frustrated, bored, and disappointed here because their Bitcoin investments lack significant returns. As a result, they lose confidence and get shaken out of the market before the event. BTC’s Post-Halving Rally Might Mirror Previous Trend As for the parabolic uptrend, Rekt Capital claims the phase will begin when Bitcoin breaks out from the re-accumulation range. He further stated that the price of BTC tends to grow more quickly and enters a parabolic upsurge during this stage. Related Reading: Bitcoin To Go Ballistic After Halving, Says Top Analyst Heres Why According to the expert, this area has typically lasted about a year or a little more, particularly around 385 days in the past. However, with the possible accelerated cycle that is currently in development, the period could be halved within this bull market cycle. Rekt Capital’s key perspectives came amidst Bitcoin demonstrating strength to revisit its current all-time high of $73,000. BTC has managed to amass gains of more than 6% in the past few days. It recovered to the $70,000 level after plunging as low as $67,000 on Wednesday and is getting close to $71,000. At the time of writing, BTC was trading at $70,854, indicating over 6% increase in the past week. Its market capitalization is up by 1% and its trading volume has plummeted by more than 21% over the past day. Given the current trend in the coin market, BTC could be in a position to see even bigger gains in the months to come. Featured image from iStock, chart from Tradingview.com

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