Popular crypto analyst Rekt Capital says Bitcoin (BTC) is about to make history with a key breakout to the upside.
Rekt shares with his 341,000 Twitter followers that BTC is entering April above a key macro downside resistance, a trendline that has been keeping Bitcoin bearish since its all-time high in November 2022.
“Tomorrow the monthly BTC candle will have closed above the macro downtrend to confirm a new bull market
BTC is about to make history.”
Source: Rekt Capital/Twitter
Rekt also says that BTC broke out exactly 396 days before Bitcoin’s halving, which is scheduled for April next year. During the halving, the amount of newly issued BTC is halved.
He adds that in 2019, Bitcoin also broke out exactly 396 days before the 2020 halving.
says right
“BTC tends to break its macro downtrend about a year before its upcoming halving
This time is no different”
The popular analyst says another factor favoring Bitcoin is the fact that a quarterly bullish engulfing candle has just closed for BTC. A bullish engulfing candle is when a green candle completely overlaps a previous red candle at both the open and close prices.
“BTC is close to confirming its first quarterly bullish engulfing candle since early 2020
Historically, quarterly bullish engulfing candles have preceded multiple up quarters.”
Source: Rekt Capital/Twitter
At the time of writing, Bitcoin is trading at $28,409.
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