Bitcoin

April

Rekt

<p><strong>Crypto influencer Crypto Rover believes Bitcoin is gearing up for a major price movement in the next 5-10 weeks. He sees potential for Bitcoin to fall to $12,000 or surge to $63,000. </strong></p> 
<p>This view mostly saligns with Rekt Capital’s analysis that the next 140 days leading up to Bitcoin’s halving in April 2024 may present the last opportunity to buy Bitcoin below $20,000.</p> 
<p>Bitcoin saw its largest volume spike on Monday, October 2nd, just hours after surpassing $28.4K for the first time since mid-August.</p> 
<blockquote class="twitter-tweet">
 <p lang="en" dir="ltr">The next BIG <a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw" target="_blank" rel="nofollow">#Bitcoin</a> move is happening in the coming 5-10 weeks. <br><br>Bearish Target: $12,000<br>Bullish Target: $63,000 <a href="https://t.co/TbDa5ZFdC2" target="_blank" rel="nofollow">pic.twitter.com/TbDa5ZFdC2</a></p>— Crypto Rover (@rovercrc) <a href="https://twitter.com/rovercrc/status/1709649336534176093?ref_src=twsrc%5Etfw" target="_blank" rel="nofollow">October 4, 2023</a>
</blockquote>  
<p>Currently trading around $27,645, Bitcoin recently bounced off its lower high resistance level per Rekt Capital’s chart. History suggests Bitcoin could see a 30-60% retracement after rejecting from a lower high. However, the potential retracement depth decreases over time as the macro higher low support level rises ahead of the halving.</p> 
<figure class="wp-block-image size-large">
 <img decoding="async" loading="lazy" width="1024" height="724" src="https://captainaltcoin.com/wp-content/uploads/2023/10/image-96-1024x724.png" alt="" class="wp-image-349028" srcset="https://captainaltcoin.com/wp-content/uploads/2023/10/image-96-1024x724.png 1024w, https://captainaltcoin.com/wp-content/uploads/2023/10/image-96-300x212.png 300w, https://captainaltcoin.com/wp-content/uploads/2023/10/image-96-767x542.png 767w, https://captainaltcoin.com/wp-content/uploads/2023/10/image-96-1536x1086.png 1536w, https://captainaltcoin.com/wp-content/uploads/2023/10/image-96-2048x1448.png 2048w, https://captainaltcoin.com/wp-content/uploads/2023/10/image-96-140x100.png 140w, https://captainaltcoin.com/wp-content/uploads/2023/10/image-96-212x150.png 212w, https://captainaltcoin.com/wp-content/uploads/2023/10/image-96-100x71.png 100w, https://captainaltcoin.com/wp-content/uploads/2023/10/image-96-495x350.png 495w, https://captainaltcoin.com/wp-content/uploads/2023/10/image-96-788x557.png 788w, https://captainaltcoin.com/wp-content/uploads/2023/10/image-96.png 1788w" sizes="(max-width: 1024px) 100vw, 1024px">
</figure> 
<p>In the 2019 cycle, Bitcoin fell 63% after rejecting from its lower high. For this cycle, Rekt Capital estimates only a 19-31% retracement is needed to revisit the higher low support around $20,000 depending on when the pullback occurs. The closer to the halving, the higher Bitcoin’s support level becomes.</p> 
<h2 class="wp-block-heading" id="rekt-capital-s-2023-cycle-analyses">Rekt Capital’s 2023 cycle analyses:</h2> 
<p>When examining Bitcoin’s current 2023 cycle, time becomes a crucial factor in projecting potential price levels. As we move closer to the 2024 halving event, three key levels are affected:</p> 
<p>a) Bitcoin’s macro lower high resistance level will likely increase over time as bulls regain control. A lower high rejection today would be at a lower price point than one in early 2024.</p> 
<p>b) Bitcoin’s macro higher low support level is likely to rise as we near the halving. The higher low provides a price floor for corrections. This support level will ascend through early 2024.</p> 
<p>c) The total retracement depth from the lower high is dependent on time. If a lower high rejection happens near the halving, the retracement magnitude could be much smaller vs. one earlier in 2023.</p> 
<figure class="wp-block-image size-large">
 <img decoding="async" loading="lazy" width="1024" height="724" src="https://captainaltcoin.com/wp-content/uploads/2023/10/image-97-1024x724.png" alt="" class="wp-image-349036" srcset="https://captainaltcoin.com/wp-content/uploads/2023/10/image-97-1024x724.png 1024w, https://captainaltcoin.com/wp-content/uploads/2023/10/image-97-300x212.png 300w, https://captainaltcoin.com/wp-content/uploads/2023/10/image-97-767x542.png 767w, https://captainaltcoin.com/wp-content/uploads/2023/10/image-97-1536x1086.png 1536w, https://captainaltcoin.com/wp-content/uploads/2023/10/image-97-2048x1448.png 2048w, https://captainaltcoin.com/wp-content/uploads/2023/10/image-97-140x100.png 140w, https://captainaltcoin.com/wp-content/uploads/2023/10/image-97-212x150.png 212w, https://captainaltcoin.com/wp-content/uploads/2023/10/image-97-100x71.png 100w, https://captainaltcoin.com/wp-content/uploads/2023/10/image-97-495x350.png 495w, https://captainaltcoin.com/wp-content/uploads/2023/10/image-97-788x557.png 788w, https://captainaltcoin.com/wp-content/uploads/2023/10/image-97.png 1788w" sizes="(max-width: 1024px) 100vw, 1024px">
</figure> 
<p>In summary, technical and cycle analysis indicates Bitcoin could see volatility back toward $20,000 over the next few months before starting its next parabolic rally after the halving in April 2024. But unpredictability is inherent in crypto. </p> 
<p>As Crypto Rover notes, Bitcoin could also surge toward $63,000 or even fall toward $12,000 in the coming weeks based on market sentiment. Either way, the next major Bitcoin price movement appears imminent.</p> 
<div class="bigofferblock margincenter mb30 pt20 pl20 pr20 " style=""> 
 <div class="col_wrap_two mb0"> 
  <div class="offerbox_big_wrap flowhidden"> 
   <div class="image position-relative text-center col_item mobileblockdisplay img-maxh-350 img-width-auto"> <a class="re_track_btn" href="https://captainaltcoin.com/go/etoro/" target="_blank" rel="nofollow sponsored"> <img decoding="async" class="lazyload" data-skip-lazy="" data-src="https://captainaltcoin.com/wp-content/uploads/thumbs_dir/etoro-ca-1-oyc386si1bdrmhrff7xex5ngu4zikfy3ei6bk0rbb6.png" width="500" alt="We recommend eToro" src="https://captainaltcoin.com/wp-content/themes/rehub-theme/images/default/blank.gif"> </a> 
   </div> 
   <div class="product-summary col_item mobileblockdisplay"> 
    <h3 class="product_title entry-title font150 lineheight25 mb30" id="a-class-re_track_btn-href-https-captainaltcoin-com-go-etoro-target-_blank-rel-nofollow-sponsored-span-we-recommend-etoro-span-a"> <a class="re_track_btn" href="https://captainaltcoin.com/go/etoro/" target="_blank" rel="nofollow sponsored"> <span>We recommend eToro</span> </a> </h3> 
    <div class="rev_disclaimer font70 greencolor lineheight15 mb20">
     <strong>74% of retail CFD accounts lose money.</strong>
    </div> 
    <div class="buttons_col mb25 rh_big_btn_inline"> 
     <div class="priced_block clearfix"> 
      <div> <a class="re_track_btn btn_offer_block" href="https://captainaltcoin.com/go/etoro/" target="_blank" rel="nofollow sponsored"> Visit eToro Now </a> 
      </div> 
     </div> 
    </div> 
    <div class="bigofferdesc">
     <i class="vertmiddle mr10 rhicon rhi-check-circle-solid greencolor font130"> </i>Active user community and social features like news feeds, chats for specific coins available for trading. 
     <br><i class="vertmiddle mr10 rhicon rhi-check-circle-solid greencolor font130"> </i>Wide range of assets: cryptocurrencies alongside other investment products such as stocks and ETFs.
     <br><i class="vertmiddle mr10 rhicon rhi-check-circle-solid greencolor font130"> </i>Copy trading: allows users to copy the trades of leading traders, for free.
     <br><i class="vertmiddle mr10 rhicon rhi-check-circle-solid greencolor font130"> </i>User-friendly: eToro’s web-based platform and mobile app are user-friendly and easy to navigate.
     <br><i class="vertmiddle mr10 rhicon rhi-check-circle-solid greencolor font130"> </i>eToro offers staking for certain popular cryptocurrencies like ETH, ADA, XTZ etc.
    </div> 
   </div> 
  </div> 
 </div> 
</div> 
<p>The post <a rel="nofollow" href="https://captainaltcoin.com/the-next-big-bitcoin-move-is-happening-in-the-next-5-10-weeks-according-to-top-analyst-here-are-lowest-and-highest-btc-price-levels/">The ‘Next Big Bitcoin Move’ is Happening in the Next 5-10 weeks According to Top Analyst – Here Are Lowest and Highest BTC Price Levels</a> appeared first on <a rel="nofollow" href="https://captainaltcoin.com">CaptainAltcoin</a>.</p>

The ‘Next Big Bitcoin Move’ is Happening in the Next 5-10 weeks According to Top Analyst – Here Are Lowest and Highest BTC Price Levels

Table of Contents

CaptainAltcoin

Other articles published on Oct 5, 2023

Friend.tech clone Stars Arena drives surge of activity on Avalanche

Hong Kong Sets up Task Force To Monitor Crypto Exchanges After JPEX

The Rise Of Cassie Wolfe: Unveiling The Trailblazing Journey In Crypto

TRON Price Stops At $0.90 As It Undergoes Bullish Exhaustion

AI Revolutionizes Newsrooms with Key Applications: Explore the Transformation

IRS Crypto Tax Extension Deadline is on October 16th: Everything You Need to Know

Join our free newsletter for daily crypto updates!