The post How Long Will Bitcoin’s Reaccumulation Phase Last? appeared first on Coinpedia Fintech News
In a recent analysis, cryptocurrency analyst Rekt Capital delved into Bitcoin’s current market dynamics, shedding light on what could be an extended reaccumulation phase following the latest halving event. The analyst stressed that Bitcoin has transitioned from its pre-halving retracement phase into a reaccumulation period. This phase, characterized by sideways consolidation, is crucial for setting the stage for the next upward rally in Bitcoin’s price.
Rekt Capital revealed key support and resistance levels, indicating that Bitcoin is currently consolidating within a range with approximately $70,000 as the upper resistance and $66,000 as the lower support.
Drawing comparisons to historical patterns, the analyst referenced the reaccumulation ranges observed after the 2020 and 2016 halving events. In 2020, it took 160 days for Bitcoin to move from the halving event to
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