🌕BTC
The chart from rektcapital on TradingView highlights Bitcoin’s (BTC) price behavior around its halving events. It compares the post-halving price action from the May 2020 halving to projections for the upcoming April 2024 halving.
2020 Halving Analysis:
• Halving Date: May 11, 2020
• Post-Halving Re-Accumulation: Bitcoin experienced a re-accumulation phase lasting 161 days (23 bars) with a minor price decline of 19.56%.
• Parabolic Upside: This phase was followed by a significant price increase, highlighted in green, indicating a strong bull market.
2024 Halving Projection:
• Upcoming Halving: Expected on April 15, 2024
• Post-Halving Re-Accumulation: The chart predicts a similar re-accumulation phase lasting 154 days (22 bars) with an expected price correction of 23.86%.
• Future Upside: Following this phase, another significant price surge is projected, mirroring the previous post-halving behavior.
Technical Indicators:
• Support and Resistance: Key levels are marked by horizontal red lines, showing areas of historical price consolidation.
• Trendline Support: An ascending black trendline indicates long-term bullish momentum.
This analysis suggests that historical patterns around halving events may repeat, providing insights into potential future price movements for Bitcoin.
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