Finally, we are into the most-awaited month of April 2024 with the Bitcoin halving event just 20 days from here onwards. As the countdown for the halving event ticks, the Bitcoin (BTC) price has been also showing some strength recently. As of press time, Bitcoin is trading at $69,500 levels with a market cap of $1.366 trillion.
Strong Breakout Leading to Bitcoin Halving
According to crypto analyst Rekt Capital, Bitcoin has initiated the breakout process, marking the first step with a weekly close above the range high. The analyst suggests that for Bitcoin to solidify this breakout, it may need to dip into the range high to effectively retest it as new support before resuming its upward trajectory, thereby completing the second step to confirm the breakout fully. Thus, the Bitcoin price can resume its journey all the way to $75,000 as we approach closer to halving.
Courtesy: Rekt Capital
Interestingly, Bitcoin has also given its first-ever monthly closing above its previous all-time hig
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