Bull Market

Rekt

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 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&nbsp;tells his 388,300 followers on the social media platform X that BTC is likely to wrestle with resistance for the next few months.
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 “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 &amp; turn it into new support to springboard into new All Time Highs”
 <figure id="attachment_190710" aria-describedby="caption-attachment-190710" style="width: 100%" class="wp-caption aligncenter"><img decoding="async" class="wp-image-190710 size-full" src="https://thebittimes.com/image/getimage/?url=https://pbs.twimg.com/media/GEIert1XwAABZKR?format=jpg&amp;name=large" alt="" width="1063" height="499">
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 Source: Rekt Capital/X
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 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&nbsp;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″
 <figure id="attachment_190710" aria-describedby="caption-attachment-190710" style="width: 100%" class="wp-caption aligncenter"><img decoding="async" class="wp-image-190710 size-full" src="https://thebittimes.com/image/getimage/?url=https://pbs.twimg.com/media/GEIt9wPXIAAUhWb?format=jpg&amp;name=large" alt="" width="1063" height="499">
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 Source: Rekt Capital/X
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 Overall, as far as Bitcoin’s bull market is concerned, the analyst&nbsp;thinks&nbsp;BTC is almost 1/3 of the way through.
 “BTC Bull Market Progress: 30.9%”
 <figure id="attachment_190710" aria-describedby="caption-attachment-190710" style="width: 100%" class="wp-caption aligncenter"><img loading="lazy" decoding="async" class="wp-image-190710 size-full" src="https://thebittimes.com/image/getimage/?url=https://pbs.twimg.com/media/GEIfKKhWUAAVFEB?format=jpg&amp;name=large" alt="" width="1063" height="499">
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 Source: Rekt Capital/X
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 BTC is worth $41,844 at time of writing, down 10% in the last week.
 Turning to layer-1 smart contract platform Solana (SOL), the trader&nbsp;says&nbsp;SOL is facing a testing point in its range low.
 “Solana is rejecting from the old black Range Low
 Following the path well thus far&nbsp;
 Invalidated should SOL reclaim the black level and/or Weekly Close above it.”
 <figure id="attachment_190710" aria-describedby="caption-attachment-190710" style="width: 100%" class="wp-caption aligncenter"><img loading="lazy" decoding="async" class="wp-image-190710 size-full" src="https://thebittimes.com/image/getimage/?url=https://pbs.twimg.com/media/GEItp2gXQAAmDyd?format=png&amp;name=large" alt="" width="1063" height="499">
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 Source: Rekt Capital/X
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 SOL is worth $95.34 at time of writing, down 5% in the last week.
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Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/crypto-trader-updates-outlook-on-bitcoin-btc-bull-market-progress-calls-move-up-for-solana-sol-tbt77027.html">https://thebittimes.com/crypto-trader-updates-outlook-on-bitcoin-btc-bull-market-progress-calls-move-up-for-solana-sol-tbt77027.html</a>

Crypto Trader Updates Outlook on Bitcoin (BTC) Bull Market Progress, Calls Move Up for Solana (SOL)

TheBitTimes

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