Since turning away from its all-time high above $73,800, Bitcoin's price has been consolidating within a wide range, stretching from $53,000 to $72,000. Popular crypto analyst Rekt Capital suggests that Bitcoin is close to breaking out of this consolidation after achieving a bullish weekly close on Oct. 27 at $67,938. Historically, Bitcoin has peaked between 518 and 550 days after halving, and this current cycle is notably accelerating. Analysts suggest that tighter Bollinger Bands indicate a significant price movement is imminent. The last two instances where the Bollinger Bands were this tight preceded major price rallies: a 180% increase in October 2023 and an 8,300% rise in September 2015. If history repeats, Bitcoin could soon experience a breakout leading to unprecedented price levels over the coming months, positioning itself for a more bullish outcome.

Source 🔗