Parabolic Rally Ahead for Bitcoin After BTC Completes “Last Two Phases,” Analyst Says – Here Are His Targets

A cryptocurrency analyst and trader says Bitcoin (BTC) is in the final stages of a pre-halving consolidation in preparation for the next rise.

The analyst, known under the pseudonym Rekt Capital, tells his 72,300 YouTube subscribers that Bitcoin is currently in a reaccumulation phase and will soon go through the final retracement phase before the halving.

According to the analyst, the pre-halving reaccumulation and retracement phases are the final two phases that allow investors to accumulate Bitcoin before BTC experiences a steep post-halving uptrend when miner rewards are halved.

“These two phases represent the biggest opportunities for Bitcoin. These are the final two phases that provide favorable buying opportunities before we initiate a post-halving parabolic rally to new all-time highs and beyond.”

Source: Rekt Capital/YouTube

Rekt Capital says BTC is likely to trade within a price range of $10,000 in its reaccumulation phase.

“With this latest rejection at $70,000, it looks like we have all but set the upper limit of this reaccumulation range in stone.

That just leaves us with a question mark: Where is the lower end of this reaccumulation range? This disadvantageous wick [to around $62,000] gave us an idea it would be around $60,000.”

When the rise to new highs could occur, the pseudonymous analyst says:

“Whatever downside we have here, this will really just be one of those last golden opportunities before we enter what is essentially the final phase of the halving cycle – the post-halving parabolic bullish phase that occurs many weeks or even months after the re- Accumulation phase.”

Bitcoin is trading at $67,816 at the time of writing.

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