{"id":204010,"date":"2023-12-01T03:27:24","date_gmt":"2023-11-30T21:57:24","guid":{"rendered":"https:\/\/dripp.zone\/news\/?p=204010"},"modified":"2023-12-01T03:27:24","modified_gmt":"2023-11-30T21:57:24","slug":"crypto-trader-says-bitcoin-btc-retracement-could-lead-to-parabolic-uptrend-heres-what-he-means-crypto-news","status":"publish","type":"post","link":"https:\/\/dripp.zone\/news\/crypto-trader-says-bitcoin-btc-retracement-could-lead-to-parabolic-uptrend-heres-what-he-means-crypto-news\/","title":{"rendered":"Crypto Trader Says Bitcoin (BTC) Retracement Could Lead to \u2018Parabolic Uptrend\u2019 \u2013 Here\u2019s What He Means – Crypto News"},"content":{"rendered":"

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A widely followed crypto analyst says that Bitcoin (BTC<\/a>) backtracking before the halving could actually be a good thing.<\/p>\n

Pseudonymous crypto trader Rekt Capital dives deep into pre-halving BTC activity for his 372,100 followers on the social media platform X.<\/p>\n

The Bitcoin halving occurs approximately every four years. The pre-programmed event reduces the reward for Bitcoin miners by half, ultimately limiting the total supply of Bitcoin to 21 million coins.<\/p>\n

According to Rekt Capital, BTC has historically used the halving to leap<\/a>\u00a0to new all-time highs.<\/p>\n

\u201cBlack trendline tends to act as a resistance in the Pre-Halving period (orange circles)<\/em><\/p>\n

But after the Halving, it gets broken & reclaimed as new support (black circle)<\/em><\/p>\n

Then after a successful retest, BTC later springboards to new All Time Highs.\u201d<\/em><\/p>\n

Source: Rekt Capital\/X<\/figcaption><\/figure>\n

According to the trader, if BTC\u2019s price lowers before the halving, it will\u00a0only result<\/a>\u00a0in an even more explosive period after the event, currently expected in April 2024.<\/p>\n

\u201cAny deeper retracement during the Pre-Halving period will enable the future parabolic uptrend in the Post-Halving period.\u201d<\/em><\/p>\n

\"\"
Source: Rekt Capital\/X<\/figcaption><\/figure>\n

According to the analyst, BTC is\u00a0still steeped<\/a>\u00a0in the pre-halving phase.<\/p>\n

\u201cBitcoin is still in the Pre-Halving phase<\/em><\/p>\n

But after the Halving, Bitcoin will spend a few weeks in Re-Accumulation (red) before rally into a parabolic uptrend (green).\u201d<\/em><\/p>\n

\"\"
Source: Rekt Capital\/X<\/figcaption><\/figure>\n

BTC is worth $37,594 at time of writing.<\/p>\n

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Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.<\/h6>\n<\/div>\n

Featured Image: Shutterstock\/Macrovector<\/em><\/span><\/p>\n<\/p><\/div>\n","protected":false},"excerpt":{"rendered":"

A widely followed crypto analyst says that Bitcoin (BTC) backtracking before the halving could actually be a good thing. Pseudonymous crypto trader Rekt Capital dives deep into pre-halving BTC activity for his 372,100 followers on the social media platform X. The Bitcoin halving occurs approximately every four years. The pre-programmed event reduces the reward for […]<\/p>\n","protected":false},"author":2,"featured_media":204011,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[173],"tags":[201,248,251,246,257,255,250,252,247,253,249,256,254],"class_list":["post-204010","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-others","tag-blockchain","tag-bsc","tag-chainlink","tag-coin","tag-cryptocurrency","tag-gta","tag-looks-rare","tag-oracle","tag-polygon","tag-quickswap","tag-safe-moon","tag-wallet","tag-wordpress"],"_links":{"self":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/204010","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/comments?post=204010"}],"version-history":[{"count":2,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/204010\/revisions"}],"predecessor-version":[{"id":204013,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/204010\/revisions\/204013"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media\/204011"}],"wp:attachment":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media?parent=204010"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/categories?post=204010"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/tags?post=204010"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}