Renowned Bitcoin analyst Rekt Capital has suggested that BTC could be on the verge of entering an explosive price phase. According to his latest market evaluation, if Bitcoin breaks above its current range in the coming weeks, it has a strong chance of reaching new all-time highs.

Recent Market Movements and Key Levels

Rekt Capital highlights that Bitcoin has frequently tested the $60,000 level in recent weeks. If this key resistance is broken, the analyst believes that BTC could be on a path toward $71,000 and possibly higher. He also notes that lower highs are continuing in the market, and once this trend breaks, Bitcoin could return to testing new resistance levels.

Upcoming Halving and Cycle Peak Predictions

One major event on the horizon is the Bitcoin halving, set for April 2024. Rekt Capital predicts that based on historical cycles, Bitcoin could reach its cycle peak around March 2025, approximately 330 days after the halving. The analyst cautions, however, that after hitting these new all-time highs, holding digital assets may become increasingly risky.

Strategic Exit Points

Rekt Capital also shared insights into his investment strategy. He recommends reviewing positions around 250 days after Bitcoin surpasses its previous all-time high. Additionally, he plans to exit his positions by no later than 330 days after the halving, highlighting that the market may enter a risky 80-day period during this time.

Rekt Capital’s analysis is based on current market trends and data from previous cycles. The Bitcoin market is known for its volatility, and both technical indicators and market sentiment should be closely monitored to potentially adjust strategies.