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#ContentStar Crypto Trader Shares Bitcoin Halving ‘Cheatsheet’, Breaks Down the Latest Litecoin Price Action A widely followed crypto analyst is sharing what he calls a “cheatsheet” for reading Bitcoin (BTC) price movements as the next halving approaches.
Pseudonymous trader Rekt Capital shares a graph with his 351,800 followers on the social media platform X that suggests BTC’s current prices are within the expected pre-halving range. According to the trader’s chart, BTC currently has some room to fall and still would remain in the expected pre-halving range. The chart indicates that the trader expects prices to not move much initially after the halving, known as the post-halving resistance, followed by a parabolic rally for BTC.
Bitcoin’s next halving is expected for April 2024.
The halving is an event that occurs every four years when the reward for Bitcoin mining is cut in half. Generally, prices rise soon after.
The trader also takes time to address the possibility that BTC is forming a bearish fractal pattern on the price charts.