Based

Rekt

Bitcoin (BTC), the largest cryptocurrency in the market, has been trading within a re-accumulation range between the $59,000 and $70,000 price levels for the past month and a half.&nbsp; 
Crypto analyst Rekt Capital recently shared its perspective on this phase and its potential duration, drawing from <a href="https://www.newsbtc.com/bitcoin-news/samson-mow-on-bitcoin-halving-brace-for-supply-shock-omega-candle-in-sight/" target="_blank" rel="noopener ">historical patterns </a>and data in a post on social media platform X (formerly Twitter). 
<h2 id="breakout-timing-and-historical-patterns">Breakout Timing And Historical Patterns</h2> 
According to Rekt’s <a href="https://x.com/rektcapital/status/1783840514917163362" target="_blank" rel="noopener nofollow">analysis</a>, Bitcoin tends to experience a re-accumulation range following the Halving event, which occurs every four years to counteract any inflationary effect on Bitcoin by lowering the reward amount for miners and maintaining scarcity.&nbsp; 
Historically, This consolidation phase lasts up to 150 days before Bitcoin breaks into a <a href="https://www.newsbtc.com/news/bitcoin/fourth-bitcoin-halving-completed/" target="_blank" rel="noopener ">parabolic uptrend</a>. Based on this pattern, if Bitcoin continues to consolidate for the next 150 days, Rekt suggests a breakout would be expected in September 2024. 
The ideal duration of a re-accumulation range is crucial in determining Bitcoin’s future trajectory. Rekt Capital noted that when Bitcoin reached a new <a href="https://www.newsbtc.com/bitcoin-news/bitcoin-halving-anticipating-price-impact-miner-challenges-and-long-term-outlook/" target="_blank" rel="noopener ">all-time high </a>(ATH) of $73,700 in mid-March, it accelerated its cycle by 260 days. However, with over 49 days of consolidation, the acceleration has reduced to approximately 210 days. 
<h2 id="resetting-the-bitcoin-halving-cycle">Resetting The Bitcoin Halving Cycle</h2> 
Repeating historical trends, where Bitcoin consolidates for 150 days after the Halving, would still indicate an acceleration in the current cycle, albeit by a lesser extent of 60 days.&nbsp; 
Nevertheless, Rekt contends that Bitcoin would ideally need to consolidate for at least 210 days to fully resynchronize with its historical <a href="https://www.newsbtc.com/news/bitcoin/narrative-post-bitcoin-halving/" target="_blank" rel="noopener ">Halving cycles</a> and reset the current acceleration in this cycle to 0. This would bring the rate of acceleration to 0 days and potentially lead to a breakout around November 2024. 
The analyst further suggested that to achieve a 200+ day post-Halving <a href="https://www.newsbtc.com/news/bitcoin/bitcoin-halving-could-catalyzed-100000-price-surge-bitwise-ceo/" target="_blank" rel="noopener ">consolidation </a>and fully resynchronize with historical Halving cycles, Bitcoin would need to replicate its mid-2023 re-accumulation range, which lasted 224 days before a new uptrend emerged. Rekt concluded: 
<blockquote>
 Overall, how long this current Re-Accumulation Range will last will dictate the remaining acceleration in this cycle and ultimately influence where Bitcoin will finally peak in its Bull Market.&nbsp;
</blockquote> 
<img loading="lazy" decoding="async" class="size-large" src="https://www.tradingview.com/x/eNsD1J7J/" alt="Bitcoin " width="1815" height="858"> 
The largest cryptocurrency, with a market capitalization of $1.2 billion, is currently trading at $64,400, showing minimal fluctuations compared to Thursday’s price movements.&nbsp; 
Recently, Bitcoin has encountered resistance at the $66,000 level, hindering its ability to consolidate above this threshold. Conversely, the $63,400 level may serve as a support base for the cryptocurrency in the event of heightened downward volatility over the weekend. 
Featured image from Shutterstock, chart from TradingView.com

Timing The Breakout: When Will Bitcoin Escape The Post-Halving Consolidation?

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