Based

Bitcoin

Rekt

<h2 id="key-points">Key Points</h2> 
<li>Bitcoin (BTC) is expected to experience a “pullback” around its next block subsidy halving.</li> 
<li>The specific timing of this event is uncertain, but it is predicted to follow the patterns of the 2016 and 2020 bull runs.</li> 
Based on the patterns of previous bull runs in 2016 and 2020, a popular trader and analyst known as Rekt Capital predicts a “pullback” for <a href="https://crypto.ro/en/cryptocurrencies/bitcoin/">Bitcoin (BTC)</a> around its next block subsidy halving in his recent YouTube video. 
<h2 id="bitcoin-s-expected-pre-halving-retrace">Bitcoin’s Expected Pre-Halving Retrace</h2> 
Bitcoin has been trading within a narrow range for over a week, with $52,000 serving as a resistance zone. 
This has impacted sentiment and the performance of altcoin prices, but experienced market observers remain hopeful. 
Rekt Capital, analyzing previous runs to all-time highs, identified key stages common to both bull market setups. 
“In the past, a macro downtrend break always precedes upside going into the halving,” he clarified. 
“Then we have a pre-halving retrace and then a post-halving reaccumulation period and then parabolic price action toward new all-time highs.” 
An accompanying chart showed BTC/USD breaking its initial downward-sloping trend line, only to get stuck in a resistance zone previously formed by it. 
What’s missing in 2024 so far is the breaking through and then retesting as support — the “pre-halving retrace” phase. 
“We’re going to have the same thing in this cycle as well,” Rekt Capital continued. 
The pre-halving pullback is expected to be around $45,000, according to data from Cointelegraph Markets Pro and TradingView. 
Rekt Capital posed the question, “Are we going to retest this resistance this month in the pre-halving period?” because historically, this has never been achieved in the pre-halving period. 
Earlier, Rekt Capital concluded that BTC/USD had fully entered its pre-halving run-up, now adding that key price events were coming quicker this cycle than before. 
<h2 id="sub-50-000-btc-price-levels-in-focus">Sub-$50,000 BTC Price Levels in Focus</h2> 
Regarding the current price action, others saw little reason to become bearish on the market amid the rangebound moves. 
“Bitcoin is trading at the exact same price as it was 7 days ago,” noted Caleb Franzen, founder of research platform Cubic Analytics, on X (formerly Twitter) on Feb. 22. 
“Fluctuating between $50.6k &amp; $53k for the past 7 days, but the lowest daily close has been $51.6k (which is also right where it’s trading right now). I really don’t understand the panic or the bear victory laps.” 
Analyst Matthew Hyland broadly agreed, highlighting the importance of the 0.618 Fibonacci retracement level from all-time highs just above $48,000. 
“If $49k folds then the picture changes but consolidation in an uptrend favors a continuation of the uptrend,” he nonetheless cautioned.

Bitcoin Pre-Halving Tempts $45K Support Level Backtest Amid Market Pullback

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