Bitcoin (BTC), the largest cryptocurrency in the market by trading volume and capitalization, has embarked on a renewed bullish uptrend, reclaiming previously lost territories and surpassing resistance levels, igniting optimism among investors. Currently trading just below its 25-month high of $49,000 at $47,900, Bitcoin has experienced a remarkable price increase of over 6% within 24 hours and a significant 11% surge over the past seven days. Mapping BTC’s Path Amidst Pre-Halving Rally However, amidst the market’s excitement, it is crucial to consider historical tendencies and their potential impact on Bitcoin’s trajectory leading up to the upcoming halving event. Market expert and analyst Rekt Capital highlights two noteworthy historical patterns: Firstly, the “Pre-Halving Rally” phase appears to be commencing. This phase refers to a period where Bitcoin experiences a surge in price before the halving event takes place. Secondly, historical data reveals that Bitcoin has struggled to break beyond the macro diagonal resistance before the halving, which Rekt places at $47,000. Additionally, it has encountered difficulty surpassing its Four Year Cycle resistance, which is approximately $46,000 in the current cycle. It is worth n ..
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