One of the top crypto traders and the pseudonymous strategist Rekt Capital recently shared his outlook on Bitcoin (CRYPTO: BTC).
He laid out a timeline for Bitcoin’s next all-time high on his Twitter feed.
“According to the Four-Year Cycle theory, a new BTC All Time High would occur at the soonest in Candle 4 (2024) & at the latest in the new Candle 1 (2025),” he said in the Twitter post.
Rekt Capital said he is upbeat about BTC’s all-time high level, “Historically, a strong indicator of where the BTC bottom is when the bearish BTC Candle 2 performs its Yearly Close.”
He mentioned Bitcoin’s relative strength indicator (RSI), which indicates possible trend reversals.
The crypto analyst also said that BTC price levels could potentially be approaching a “peak financial opportunity.” He spoke about why it’s essential to keep an eye on candle three in the four-year cycle theory.
“Upcoming BTC Candle 3 in 2023 is a Bottoming year. But the 2024 Candle 4 is a Reversal year during which the BTC Halving occurs. Historically Candle 4 has at least eclipsed the preceding Candle 1 & Candle 2 resistance and at best rallied to a new All-Time High,” he said in the Twitter post.
At the time of writing, Bitcoin was trading at $16,584, down by 1.5% in the last seven days.
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Source: https://finance.yahoo.com/news/crypto-analyst-predicts-bitcoin-time-173753429.html