TechFlow reports that cryptocurrency analyst Rekt Capital tweeted, noting Bitcoin has been consolidating within a range for nearly six months, but this is not the longest accumulation period in the current cycle.
The 2023 accumulation phase lasted 224 days from formation to breakout, longer than the current range. Rekt Capital suggests that if history repeats, Bitcoin could break out of its current range by October 2024.
Interestingly, this timeframe roughly aligns with historical post-halving price trends, which imply Bitcoin might break out by the end of September 2024.
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