A popular crypto analyst thinks historical trends indicate Bitcoin (BTC<\/a>) could be on the verge of a breakout.<\/p>\n The pseudonymous trader known as Rekt Capital tells his 501,400 followers on the social media platform X that BTC has historically broken out from its re-accumulation range 154-161 days after its halvings.<\/p>\n \u201cIt is 157 days after the halving now. <\/em>History suggests it is \u2018Breakout Time\u2019 for Bitcoin.\u201d<\/em><\/p>\n The analyst says<\/a> historical patterns suggest BTC will now transition into its \u201cParabolic Upside phase.\u201d<\/p>\n Rekt also notes<\/a> that standard halving cycles indicate the current Bitcoin cycle is only 44.8% of the way through the ongoing bull market.<\/p>\n The analyst says<\/a> BTC has \u201cconvincingly\u201d broken a series of lower highs.<\/p>\n \u201cBitcoin needed to Weekly Close above ~$61,900 which was represented by the Downtrend, and Bitcoin managed to do just that and more, Weekly Closing much higher than that price point.<\/em><\/p>\n Thus \u2013 the Downtrend is over.<\/em><\/p>\n However, whenever a Downtrend ends as resistance, there is always an opportunity for price to pull back into that old downtrend to turn it into a new support, so as to fully confirm the breakout.<\/em><\/p>\n For Bitcoin to experience such a post-breakout retest, price would need to drop into the ~$61,300 area.\u201d<\/em><\/p>\n BTC is trading at $64,539 at time of writing. The top-ranked crypto asset by market cap is up nearly 2% in the past 24 hours.<\/p>\n Don’t Miss a Beat \u2013 Subscribe<\/a> to get email alerts delivered directly to your inbox <\/span><\/em>   Generated Image: Midjourney<\/em><\/span><\/p>\n<\/p><\/div>\n","protected":false},"excerpt":{"rendered":" A popular crypto analyst thinks historical trends indicate Bitcoin (BTC) could be on the verge of a breakout. The pseudonymous trader known as Rekt Capital tells his 501,400 followers on the social media platform X that BTC has historically broken out from its re-accumulation range 154-161 days after its halvings. \u201cIt is 157 days after […]<\/p>\n","protected":false},"author":2,"featured_media":355637,"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-355631","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\/355631","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=355631"}],"version-history":[{"count":3,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/355631\/revisions"}],"predecessor-version":[{"id":355639,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/355631\/revisions\/355639"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media\/355637"}],"wp:attachment":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media?parent=355631"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/categories?post=355631"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/tags?post=355631"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}![\"\"](\"https:\/\/newsletter.rektcapital.co\/content\/images\/2024\/09\/BTCUSD_2024-09-23_13-30-41.png\")
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