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The post <a href="https://coinpedia.org/price-analysis/bitcoin-price-analysis-is-46000-the-ultimate-high-for-btc-price-in-2023/" rel="noopener noreferrer nofollow">Bitcoin Price Analysis: Is $46,000 the Ultimate High for BTC Price in 2023?</a> appeared first on <a href="https://coinpedia.org" rel="noopener noreferrer nofollow">Coinpedia Fintech News</a>
Bitcoin, the ever-evolving digital currency, has caught the attention of Rekt Capital, a highly regarded analyst in the realm of cryptocurrency. Rekt Capital noted that Bitcoin will break beyond $46000 in 2024, most likely after the halving, based on its chart analysis of the 4-year cycle resistance.
<h2 class="wp-block-heading" id="h-46-000-a-potential-resistance-point">$46,000 – A Potential Resistance Point</h2>
Rekt Capital introduces a compelling perspective, pointing towards the $46,000 region as a potential resistance, citing the Four-Year Cycle. Historically, this level has acted as a robust point of rejection for three consecutive years, signaling a crucial juncture for Bitcoin’s price action.
Rekt Capital dissects the Four-Year Cycle, revealing its four distinct candles that shape Bitcoin’s journey.&nbsp;
<figure class="wp-block-image size-full"><img decoding="async" width="1019" height="681" src="https://image.coinpedia.org/wp-content/uploads/2023/12/12114620/Rekt-Capital-4-year-bitcoin-cycle-analysis.png" alt="" class="wp-image-252839" srcset="https://image.coinpedia.org/wp-content/uploads/2023/12/12114620/Rekt-Capital-4-year-bitcoin-cycle-analysis.png 1019w, https://image.coinpedia.org/wp-content/uploads/2023/12/12114620/Rekt-Capital-4-year-bitcoin-cycle-analysis-300x200.png 300w, https://image.coinpedia.org/wp-content/uploads/2023/12/12114620/Rekt-Capital-4-year-bitcoin-cycle-analysis-768x513.png 768w, https://image.coinpedia.org/wp-content/uploads/2023/12/12114620/Rekt-Capital-4-year-bitcoin-cycle-analysis-150x100.png 150w" sizes="(max-width: 1019px) 100vw, 1019px">
</figure>
From Candle 1’s Bull Market Peak, where Bitcoin forms a new All-Time High after rejecting the Four-Year Cycle resistance, to Candle 2’s Bear Market year with a prolonged correction, the analysis reveals a precise picture.
Further Candle 3, the Bottoming Out year, adds an intriguing layer. The analyst highlights that while the price rebounds strongly, it doesn’t consistently revisit the Four-Year Cycle resistance. The historical context, exemplified by years like 2015 and 2019, showcases varied patterns of revisit and rejection.
Rekt Capital underscores a pivotal moment approaching: a potential breakthrough in 2024, specifically in Candle 4, the Trend Reversal year. According to his analysis, Candle 4 begins with these long downward lines, creating a “Higher Low” than Candle 3. It’s like a signal that the market might change a lot.
<h2 class="wp-block-heading" id="h-your-last-buying-chance">Your Last Buying Chance?</h2>
Rekt Capital also talks about a chance to buy Bitcoin at a lower price before the <a href="https://coinpedia.org/news/how-will-the-crypto-market-react-to-the-u-s-approving-its-first-bitcoin-etf/" rel="noopener noreferrer nofollow">Halving event</a>. They say it could be one of the last times to get a good deal before Bitcoin starts going up a lot.
Perhaps on the cautionary side, he is expecting that there’s a catch—if Bitcoin can’t break past $46,000 this year, there might be a bit of a Buy the Hype, Sell the News, especially with the buzz around the Bitcoin ETF in January.
As the crypto community gears up for potential changes, Rekt Capital’s analysis acts like a roadmap, helping us understand where Bitcoin might go in 2023.&nbsp;

Bitcoin Price Analysis: Is $46,000 the Ultimate High for BTC Price in 2023?

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