If you’ve been following Bitcoin, you might have picked up some words about a possible breakout soon. The pseudonymous analyst Rekt Capital recently shared his thoughts on YouTube, suggesting that Bitcoin is currently very close to a “monumental breakout”. According to him, we’re almost at the parabolic phase of the market, and this could mean big things for Bitcoin’s price.
Rekt Capital believes it’s only a matter of time before Bitcoin breaks out. He points to historical patterns, noting that Bitcoin’s price tends to break out about 150 to 160 days after a halving event. This time frame places the potential breakout in late September or early October. As Rekt Capital puts it, “Historically, breakouts have occurred 150 to 160 days after the halving, placing this potential breakout in late September or early October—typically a strong month for Bitcoin’s price action.”
So, what does this mean for us? According to Rekt Capital, as we get closer to this potential breakout, it’s crucial not to take these opportunities for granted. He explains, “As we get closer to the potential historical breakout, it’s important not to take these opportunities for granted.” The analyst also expects that Bitcoin will reclaim the $60,000 level as support on the weekly chart before a parabolic rise can begin. “We’re very close to a significant breakout, with only a short period left before the parabolic phase likely begins. Historically, once the reaccumulation range is reclaimed, it sets the stage for a move to revisit and eventually break beyond the range high,” Rekt Capital continues.
At the time of writing, Bitcoin seems to be holding its ground, with the price trading just above the symbolic $60,000 level at $60,940 according to CoinMarketCap data. This is a promising sign, but we’re not there yet. As Rekt Capital points out, “The market is slowly starting to turn in Bitcoin’s favor again. But we’re not there yet, as we have thought this before. It’s possible that Rekt Capital is right, and we may need to wait just over a month more for the Bitcoin price to make its move.”
So, how should we prepare? Rekt Capital offers some solid advice: “The key is to prepare by accumulating during these boring periods when the market is stagnant, especially during downside deviations.” In other words, now might be the time to consider adding to your Bitcoin holdings while the market is relatively quiet.
Rekt Capital’s prediction falls in line with the ‘pump’ that PlanB, the well-known Bitcoin analyst and creator of the Stock-to-Flow (S2F) model, is expecting. According to his model, Bitcoin could see a price of up to $140,000 before the end of the year. Bitcoin’s current price of $60,000 even perfectly aligns with a 4x up from this cycle’s bottom price, he explained this week on X.
https://twitter.com/100trillionUSD/status/1825832963604390338
As always, it’s important to do your own research and make decisions that are right for your financial situation. But if both analysts are right, we could be on the brink of an exciting time for Bitcoin. Stay informed, stay prepared, and let’s see where this market takes us.
Watch the entire video of Rekt Capital below: