Analyst: Bitcoin has stepped out of the “danger zone” after halving and entered the accumulation stage

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Rekt Capital2024/05/14 09:58

By:Rekt Capital

ChainCatcher news, according to Cryptonews, technical analyst Rekt Capital said that Bitcoin has moved out of the "danger zone" after halving and entered the accumulation phase, as shown by the weakening selling pressure.

After previous halving events, Bitcoin typically experiences increased volatility, which is known as the “danger zone.” In the current cycle, Bitcoin’s price fell a modest 6.5% in three weeks before surging 15%, marking a strong exit from danger territory.

Rekt Capital added: “Bitcoin’s post-halving danger zone is officially over and Bitcoin is celebrating a healthy bounce off the reaccumulation range low support.”

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

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