- Bitcoin’s current parabolic phase could extend up to 385 days, mirroring post-halving growth patterns.
- Post-2024 halving, Bitcoin may consolidate before a bullish breakout, with targets between $100K and $160K.
- A Golden Cross in late September suggests continued upward momentum as Bitcoin hovers near $90K with key resistance at $95K.
Bitcoin has entered a critical phase in its price cycle, with Rekt Capital predicting a potentially year-long parabolic surge. Just two weeks into this phase, BTC’s upward momentum aligns with historic post-halving trends that have previously led to major price increases. The current phase, expected to last up to 385 days, suggests a potential for sustained growth over the coming year.
Halving Events Trigger Re-Accumulation and Growth Phases
Historically, Bitcoin’s price undergoes transformative phases following halving events, which reduce its block reward by 50%, constraining supply. Marked by blue lines, the 2020 and 2024 halvings on May 11, 2020, and April 15, 2024, respectively, illustrate this pattern.
Following the 2020 halving, BTC entered a re-accumulation zone, forming a price base before a strong upward breakout. Similarly, after the April 2024 halving, analysts project another consolidation phase, as seen in past cycles. This re-accumulation stage, highlighted in red, is expected to precede another parabolic advance, with potential targets near or above $100,000 and possibly reaching up to $160,000 by late 2025.
Historical Price Performance and Key Support Levels
Resistance levels are marked in red and significant re-tests indicated by orange circles. These levels serve as critical price highs, where Bitcoin has previously shown accumulation, signaling potential support zones.
After the 2020 halving, Bitcoin experienced a 55-week consolidation period, leading to the parabolic rally that pushed its price upward. In this cycle, a similar time-based accumulation phase is anticipated after the April 2024 halving, pointing toward a potential surge around mid to late 2025.
At press time, Bitcoin was trading at $90,567.51, reaching the upper boundary of the projected re-accumulation area. This suggests the potential for an imminent breakout, as witnessed in previous halving cycles.
Moving Averages and Market Sentiment
On a 4-hour timeframe the price behavior against two key moving averages: the 50-period moving average (MA50), represented by a red line, and the 200-period moving average (MA200), marked in yellow, BTC is still bullish.
Currently, Bitcoin’s price of approximately $90.6K has sharply moved above both averages. The MA50 ($81.1K) closely follows this rally, indicating short-term bullish sentiment, while the MA200 lags at $71.2K, suggesting sustained upward strength over recent weeks.
A Golden Cross, where the MA50 moves above the MA200, occurred in late September 2024, marking a historically bullish signal. Bitcoin’s price then accelerated, pushing from $70K to $90K within a month. Resistance levels, notably near $95K and $100K, could temper this ascent, yet surpassing $100K may prompt even higher targets between $110K and $120K, maintaining the strong bullish trend as the 2024 halving draws closer.
DISCLAIMER: The information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.
