The analyst who nailed Bitcoin’s pre-halving correction last year believes that BTC is about to enter another explosive phase of the market cycle.
The analyst is known as Rekt Capital He narrates Bitcoin May Have 105,000 YouTube Subscribers Building on historical precedence, Bitcoin is soon having a massive breakout, following the recent correction.
However, he warns that a severe correction may follow the next big rally based on Bitcoin’s usual cycle patterns.
“We are on the cusp of entering a parabolic phase in the cycle again. This second price discovery to the upside that will lead to price discovery and all-time highs. And then, of course, we will have to prepare for this price discovery to correct again… It will last several weeks.” And chances are it will be deeper than that 17% decline we saw…
This second price discovery correction could be very different, it could be much deeper and I’m sure it will make a lot of retail investors in the market give up. “
The trader also expects Bitcoin to enter its third price discovery phase after a potential severe correction based on previous cycles.
“It probably won’t be the end of the cycle overall, and we’ll still have that third trend of price discovery. So if we look overall, overall, at this market cycle, roughly where we are, we’re in the parabolic phase of the cycle. And if we look at where we are month “We are in the third month of the price discovery trend in the parabolic phase.”
Bitcoin is trading for $104,565 at the time of writing.
https://www.youtube.com/watch?v=98Kkimsyobi
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