A widely followed crypto analyst is updating his strategy on Bitcoin (BTC) as the crypto king’s next halving approaches.

Pseudonymous crypto trader Rekt Capital tells his 388,300 followers on the social media platform X that BTC is likely to wrestle with resistance for the next few months.

“The Macro Diagonal continues to act as resistance

History suggests this will continue for a few more months

After the Halving however, BTC should be ready to break this Macro Diagonal & turn it into new support to springboard into new All Time Highs”

The Bitcoin halving is a programmed event that occurs every four years, reducing mining rewards by half. Historically, BTC rallies tend to follow halvings.

However, until BTC reaches that point, Rekt Capital sees the possibility of Bitcoin slipping before the next halving, which will likely be in April.

“Will Bitcoin offer another Pre-Halving retrace?

If it occurs, it definitely won’t be as deep as March 2020″

Overall, as far as Bitcoin’s bull market is concerned, the analyst thinks BTC is almost 1/3 of the way through.

“BTC Bull Market Progress: 30.9%”

BTC is worth $41,844 at time of writing, down 10% in the last week.

Turning to layer-1 smart contract platform Solana ( 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