A closely watched crypto analyst says Bitcoin (BTC) is currently decisively in the middle of its pre-halving rally.
Pseudonymous crypto strategist Rekt Capital tells its 410,900 followers on the social media platform
“Bitcoin is still firmly in the pre-halving rally phase, but as is the case with pre-halving rallies – dips can happen. Bitcoin briefly fell -14% yesterday. The best we can hope for is these dips, but be careful what you wish for – dips can happen.”
The trader’s chart indicates that Bitcoin experienced a post-halving slump during the 2020 cycle before going parabolic – something he predicts will happen again this year.
BTC’s next halving event is scheduled for April and will halve miner rewards. The crypto king is trading at $67,200 at the time of writing, up fractionally over the past 24 hours.
We continue with the dog-themed digital asset Dogecoin (DOGE), Rekt Capital say that the popular memecoin has confirmed a new macro uptrend after successfully retesting its support level.
“DOGE has successfully retested the macro downtrend as new support. A successful retest after breaking a macro downtrend means that a new macro uptrend has been fully confirmed.”
The trader’s chart shows that Dogecoin could shoot past the $0.20 price tag before June. DOGE is trading at $0.153 at the time of writing, up 2.5% over the last day.
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Generated image: DALLE3