According to market patterns, Bitcoin is on the verge of a breakout within the next few days, claims well-known crypto analyst Rekt Capital.
In a recent post on X (formerly Twitter), Rekt Capital pointed out that Bitcoin usually breaks out between 154 and 161 days after a halving. The latest halving was on April 20, which was 157 days ago. This puts Bitcoin right in the expected breakout window.
“History suggests it’s breakout time for Bitcoin,” the analyst noted.
Tracking Past Breakouts
In previous halving cycles, Bitcoin followed a similar pattern. In 2016, BTC broke out 154 days after the halving, while in 2020, the breakout occurred 161 days after the event. If history echoes itself, Bitcoin could be set to break out of its current range-bound phase any day now.
Rekt Capital warned that history doesn’t always repeat exactly, but the signs point to a move soon. He said, “If the pattern holds, Bitcoin could break out in the next few days.”
September Surprises, October Optimism
Rekt Capital highlighted that September is usually a bad month for Bitcoin. However, this year broke the pattern, with BTC gaining around 9% in September. This is the highest-ever return for the month, beating the 6% gain from September 2016.
The fourth quarter has usually brought better results for Bitcoin. In fact, October has given positive returns in nine of the last eleven years. Notable months like October 2017 and 2021 saw gains of 48% and 40%.
Where’s the Next Big Move?
Bitcoin has been trading flat for the past six months, but analysts like Rekt Capital think a breakout is near. To reach new highs, BTC needs to pass its all-time peak of $73,738, which is just 14.6% above current levels.
Right now, Bitcoin is down 1.7% in the last 24 hours, trading at $62,863 after reaching a monthly high of $65,600 on September 23, according to CoinGecko.
With history as a guide, the next few days could be key for Bitcoin’s next big move.
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