If History Repeats Bitcoin, a Big Break May Occur in September

Popular analyst Rekt Capital pointed to September for Bitcoin (BTC).

Rekt Capital updated its Bitcoin analysis in its X post dated July 19th. The analyst said that if history repeats itself, Bitcoin may experience a significant breakout in September 2024.

The reaccumulation range is characterized by the Bitcoin price remaining sideways for a certain period of time and large investors strengthening their positions during this period. If history repeats itself, a breakout from this range could lead to a significant increase in Bitcoin price:

If history repeats itself, Bitcoin could make a strong breakout from the “reaccumulation zone” in September 2024.

In a similar chart he recently shared, the analyst stated that Bitcoin could rise to $71,000 in the short term. He argued that the intense liquidity collected in that region would pull the price up like a magnet.

According to CoinGecko data, Bitcoin, which has increased by 5% in the last 24 hours, is traded at $65,400 at the time of writing.