Bitcoin (BTC) ‘on the cusp’ of making history, says top crypto analyst – The Daily Hoddle

Popular crypto analyst Rekt Capital says that Bitcoin (BTC) is about to make history with a significant breakout to the upside.

blank says His 341,000 Twitter followers noted that BTC is entering April above key macro downside resistance, a trend line that has kept bitcoin bearish since it reached its all-time high in November 2022.

“Tomorrow, BTC monthly candle closes above macro downtrend to confirm a new bull run

BTC is on the verge of making history.”

Source: Rekt Capital/Twitter

rect too They say BTC breaks down exactly 396 days before the bitcoin halving, which is scheduled for April next year. The halving occurs when the amount of newly issued BTC is cut in half.

He adds that in 2019, bitcoin also broke out exactly 396 days before the 2020 halving.

They say rect,

“BTC Tries to Break Its Macro Downtrend Nearly a Year Ahead of Its Upcoming Halving

This time is no different”

popular analyst They say Another factor favoring bitcoin is the fact that a quarterly bullish engulfing candle has just closed for BTC. A bullish engulfing candle occurs when a green candle completely overlaps the previous red candle at both the opening and closing prices.

“BTC on the verge of confirming its first quarterly bullish engulfing candle since the start of 2020

Historically, quarterly bullish candles have been reversed over several quarters.

Source: Rekt Capital/Twitter

At the time of writing, bitcoin is trading at $28,409.

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Disclaimer: The views expressed in The Daily Hoddle do not constitute investment advice. Investors should conduct due diligence before making any high-risk investments in bitcoin, cryptocurrency or digital assets. Please be aware that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hoddle does not recommend the purchase or sale of any cryptocurrency or digital asset, nor is The Daily Hoddle an investment advisor. Please note that The Daily Hoddle participates in affiliate marketing.

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