A closely followed crypto analyst says that Bitcoin (BTC) has now moved into bullish territory as the halving approaches.
Pseudonymous analyst Rekt Capital tells his 397,000 followers on the social media platform X that Bitcoin has entered a “pre-halving rally phase.”
According to the trader, Bitcoin’s bull markets can be broken up into three main chapters: the pre-halving rally, the post-halving resistance and the post-halving parabola. He says BTC has officially kicked off the first phase.
“Time has run out.
Bitcoin has already transitioned into the pre-halving rally phase.”
Source: Rekt Capital/X
Rekt also takes a look at the Pi Cycle Top indicator, which focuses on a 111-day moving average (DMA) and a multiple of the 350-day moving average.
According to the analyst, the indicator’s