Is the pre-halving Bitcoin correction over?

Bitcoin’s pre-halving price correction occurred in line with previous historical retraces ahead of the halving, according to analyst Rekt Capital, who wrote in a March 25 X post:

“The Pre-Halving Retrace occurred right on schedule. And now Bitcoin is back to $70,000.”

BTC/USD, 1-week chart. Source: Rekt Capital

Bitcoin price could break out toward new all-time highs if the old all-time high of $69,000 is flipped into support, said Rekt Capital, in a March 26 video analysis:

“Bitcoin is now peaking beyond this old all-time high, potentially positioning itself for this pre-halving retracement to be over.”

Last week’s Bitcoin price correction suggests that price has already formed a local bottom, or is close to doing so, according to a research note by Bitfinex analysts, shared with Cointelegraph:

“We believe the pullback last week for Bitcoin from its current all-time high of $73,666, and amounting to an approximate 17.5 percent correction, suggests we are close to establishing a local bottom - and indeed may have already done so.”

This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.

#binance #btc #bitcoin #BinanceVietnamSquare.

(p2)