A widely followed crypto analyst is plotting out Bitcoin’s (BTC) most likely moves as the king crypto approaches a halving next year.

Pseudonymous crypto trader Rekt Capital tells his 357,300 followers on the social media platform X that regardless of BTC’s next move, the flagship crypto asset will be worth around $30,000 heading into April 2024.

“BTC 

Whether Bitcoin breaks out soon

Or breaks down soon

History suggests we’ll still see Bitcoin around the ~$30,000 region going into the Halving.”

More immediately, Rekt Capital says BTC has found some support.

“BTC has rejected from the Lower High resistance

But is now holding the Bull Market Support Band cluster of moving averages as support.”

Despite a slight rally to start October, the analyst says BTC has retraced most of its gains.

“BTC 

Rallied +5% this October but retraced most of the move.

Historically, we’ve seen upside wicks of up to +8% beyond a key Monthly resistance.

If BTC Monthly Closes below black this month -> rejection.

However, reclaim it as support and BTC will move higher.”

Regardless of what move BTC makes next, Rekt Capital reiterates his belief that BTC will valued at around $30,000 in April 2024, the expected date for the next halving.

“BTC 

Pre-Halving year tends to see both upside and downside volatility throughout the year.

Go to Source to See Full Article
Author: Daily Hodl Staff

Did you like this?
Tip BTC Newswire with Cryptocurrency

• Bitcoin
• Bitcoin Cash
• Ethereum
• Litecoin
• Monero
• ZCash

Donate Bitcoin to BTC Newswire

Scan the QR code or copy the address below into your wallet to send some bitcoin:

Donate via Installed Wallet Copy

[X] Click Here to Hide Donation Details

Donate Bitcoin Cash to BTC Newswire

Scan the QR code or copy the address below into your wallet to send bitcoin:

Donate via Installed Wallet Copy

[X] Click Here to Hide Donation Details

Donate Ethereum to BTC Newswire

Scan the QR code or copy the address below into your wallet to send some Ether:

Donate via Installed Wallet Copy

[X] Click Here to Hide Donation Details

Donate Litecoin to BTC Newswire

Scan the QR code or copy the address below into your wallet to send some Litecoin:

Donate via Installed Wallet Copy

[X] Click Here to Hide Donation Details

Donate Monero to BTC Newswire

Scan the QR code or copy the address below into your wallet to send some Monero:

Donate via Installed Wallet Copy

[X] Click Here to Hide Donation Details

Donate ZCash to BTC Newswire

Scan the QR code or copy the address below into your wallet to send some ZCash:

Copy ZCash Address

[X] Click Here to Hide Donation Details