Bank AI

Bitcoin

Rekt (rektarb.xyz)

Rekt

<div class="finbold">
 <p class="paragraph">Although Bitcoin (BTC) has started the week on a positive note, recovering from the recent losses that followed its new all-time high (ATH), the maiden cryptocurrency is inching <a rel="noopener noreferrer nofollow" title="closer" href="https://thebittimes.com/tag/closer.html">closer</a> to a <a rel="noopener noreferrer nofollow" title="major" href="https://thebittimes.com/tag/major.html">major</a> <a rel="noopener noreferrer nofollow" title="‘danger" href="https://thebittimes.com/tag/danger.html">‘danger</a> <a rel="noopener noreferrer nofollow" title="zone’" href="https://thebittimes.com/tag/zone.html">zone’</a> in which it has historically started to make its pre-<a rel="noopener noreferrer nofollow" title="halving" href="https://thebittimes.com/tag/halving.html">halving</a> retraces.</p>
 <p class="paragraph">Specifically, Bitcoin has traditionally performed pre-halving retraces in the period between 14 and 28 days before its halving event, with a 40% retrace in 2016 and a 20% one in 2016, according to the observations shared by crypto trading expert <em>Rekt Capital </em>in an X post<em> </em>on March 17.</p>
 <figure class="wp-block-image"><img decoding="async" width="800" height="565" src="https://cdn.thebittimes.com/images/2024/03/18/aa7186053764da3fff7c727268a2fc2b.webp" alt="Bitcoin price prediction and action analysis." class="wp-image-161822" srcset="https://cdn.thebittimes.com/images/2024/03/18/aa7186053764da3fff7c727268a2fc2b.webp 800w, https://cdn.thebittimes.com/images/2024/03/18/aa7186053764da3fff7c727268a2fc2b.webp 300w, https://cdn.thebittimes.com/images/2024/03/18/aa7186053764da3fff7c727268a2fc2b.webp 768w" sizes="(max-width: 800px) 100vw, 800px">
  <figcaption class="wp-element-caption"><em>Bitcoin price prediction and action analysis. Source: </em><em>Rekt Capital</em>
  </figcaption>
 </figure>
 <h2 class="wp-block-heading" id="h-highway-to-the-danger-zone">Highway to the danger zone</h2>
 <p class="paragraph">In other words, Bitcoin is about to enter another ‘danger zone’ in which the pre-halving retraces would typically begin, keeping in mind that the flagship decentralized finance (DeFi) asset is less than 30 days away from the halving and has already recorded a pullback last week.</p>
 <div class="border border-red-300 rounded-xl p-6 not-prose mb-6">
  <h3 class="text-2xl font-black mt-0 flex gap-x-3 mb-5">
   <svg width="32" height="32" viewbox="0 0 32 32" fill="none" xmlns="//www.w3.org/2000/svg"><path d="M4 10.6665V25.3332C4 28.2678 6.392 29.3332 8 29.3332H28V26.6665H8.016C7.4 26.6505 6.66667 26.4078 6.66667 25.3332C6.66667 24.2585 7.4 24.0158 8.016 23.9998H28V5.33317C28 3.8625 26.804 2.6665 25.3333 2.6665H8C6.392 2.6665 4 3.73184 4 6.6665V10.6665ZM8 5.33317H25.3333V21.3332H6.66667V6.6665C6.66667 5.59184 7.4 5.34917 8 5.33317Z" fill="#EF4444"> 
    </path> <path d="M15.996 18.6668L20.4626 14.2815C20.738 14.0166 20.9571 13.6989 21.1068 13.3473C21.2564 12.9957 21.3336 12.6176 21.3336 12.2355C21.3336 11.8534 21.2564 11.4752 21.1068 11.1236C20.9571 10.7721 20.738 10.4543 20.4626 10.1895C19.9074 9.64148 19.1587 9.33422 18.3786 9.33422C17.5985 9.33422 16.8498 9.64148 16.2946 10.1895L15.996 10.4801L15.6973 10.1881C15.1423 9.64023 14.3938 9.33301 13.614 9.33301C12.8341 9.33301 12.0856 9.64023 11.5306 10.1881C11.2552 10.453 11.0361 10.7707 10.8865 11.1223C10.7368 11.4739 10.6597 11.852 10.6597 12.2341C10.6597 12.6162 10.7368 12.9944 10.8865 13.346C11.0361 13.6975 11.2552 14.0153 11.5306 14.2801L15.996 18.6668Z" fill="#EF4444"> 
    </path>
   </svg> Picks for you</h3>
  <div class="grid md:grid-cols-2 gap-x-10 gap-y-3 md:gap-y-5 divide-y divide-gray-300 md:divide-y-0">
   <div class="md:odd:pr-4 md:odd:border-r odd:border-gray-300 pt-3 first:pt-0 md:pt-0">
    Solana’s network hit with massive congestion; Will SOL retreat? <span class="self-center text-xs text-slate-500">17 hours ago</span>
   </div>
   <div class="md:odd:pr-4 md:odd:border-r odd:border-gray-300 pt-3 first:pt-0 md:pt-0">
    Was the meme coin boom a top signal for crypto? <span class="self-center text-xs text-slate-500">17 hours ago</span>
   </div>
   <div class="md:odd:pr-4 md:odd:border-r odd:border-gray-300 pt-3 first:pt-0 md:pt-0">
    Bitcoin on the cusp of hitting the danger zone; Here’s why <span class="self-center text-xs text-slate-500">18 hours ago</span>
   </div>
   <div class="md:odd:pr-4 md:odd:border-r odd:border-gray-300 pt-3 first:pt-0 md:pt-0">
    What will Bank of England’s rate decision be this week? <span class="self-center text-xs text-slate-500">19 hours ago</span>
   </div>
  </div>
 </div>
 <div class="mb-4 bg-slate-50 rounded-md layout-adjustment">
  <div id="finbold.com_middle" style="min-width: 300px; min-height: 250px;">
  </div>
 </div>
 <p class="paragraph">At the same time, Bitcoin has demonstrated higher levels of liquidity to the upside in the past week, leaving analysts to wonder if traders will take it now or if market makers will bring the price down first for more liquidity to build on-top, and then make a move to grab it, as <em>Bitcoinsensus </em>noted on March 18.</p>
 <figure class="wp-block-image"><img decoding="async" width="800" height="426" src="https://cdn.thebittimes.com/images/2024/03/18/d132c0bb0e968aa3a08787786e5fbd55.webp" alt="Bitcoin 7-day liquidation heatmap. " class="wp-image-161823" srcset="https://cdn.thebittimes.com/images/2024/03/18/d132c0bb0e968aa3a08787786e5fbd55.webp 800w, https://cdn.thebittimes.com/images/2024/03/18/d132c0bb0e968aa3a08787786e5fbd55.webp 300w, https://cdn.thebittimes.com/images/2024/03/18/d132c0bb0e968aa3a08787786e5fbd55.webp 768w" sizes="(max-width: 800px) 100vw, 800px">
  <figcaption class="wp-element-caption"><em>Bitcoin 7-day liquidation heatmap. Source: </em><em>Bitcoinsensus</em>
  </figcaption>
 </figure>
 <h2 class="wp-block-heading" id="h-bitcoin-price-analysis">Bitcoin price analysis</h2>
 <p class="paragraph">At press time, Bitcoin was changing hands at the price of $67,980, which suggests an increase of 2.36% in the last 24 hours, while declining 4.59% across the previous seven days but still holding onto the gain of 30.97% on its monthly chart, according to the latest price data.</p>
 <figure class="wp-block-image"><img loading="lazy" decoding="async" width="750" height="496" src="https://cdn.thebittimes.com/images/2024/03/18/32019f0859e608f89c6e1bb6526ce879.webp" alt="Bitcoin 7-day price chart." class="wp-image-161824" srcset="https://cdn.thebittimes.com/images/2024/03/18/32019f0859e608f89c6e1bb6526ce879.webp 750w, https://cdn.thebittimes.com/images/2024/03/18/32019f0859e608f89c6e1bb6526ce879.webp 300w" sizes="(max-width: 750px) 100vw, 750px">
  <figcaption class="wp-element-caption"><em>Bitcoin 7-day price chart. Source: </em><em>Finbold</em>
  </figcaption>
 </figure>
 <p class="paragraph">It is also worth noting that crypto expert <em>TradingShot</em> earlier opined that Bitcoin could see another ATH by the month’s end, as the drop to $65,000 saw it break below the four-hour MA50 and enter Ichimoku Cloud for the first time in the month, while also touching the bottom of the short-term channel up pattern.</p>
 <figure class="wp-block-image"><img loading="lazy" decoding="async" width="800" height="448" src="https://cdn.thebittimes.com/images/2024/03/18/5642da083d4e2031da1d6b6505bea5a5.webp" alt="Bitcoin price analysis chart. " class="wp-image-161825" srcset="https://cdn.thebittimes.com/images/2024/03/18/5642da083d4e2031da1d6b6505bea5a5.webp 800w, https://cdn.thebittimes.com/images/2024/03/18/5642da083d4e2031da1d6b6505bea5a5.webp 300w, https://cdn.thebittimes.com/images/2024/03/18/5642da083d4e2031da1d6b6505bea5a5.webp 768w" sizes="(max-width: 800px) 100vw, 800px">
  <figcaption class="wp-element-caption"><em>Bitcoin price analysis chart. Source: </em><em>TradingShot</em>
  </figcaption>
 </figure>
 <h2 class="wp-block-heading" id="h-bitcoin-price-prediction">Bitcoin price prediction</h2>
 <p class="paragraph">Meanwhile, in terms of specific numbers for the Bitcoin price prediction, another pseudonymous crypto analyst also noted that “history does not repeat, but it often rhymes,” sharing the expectation of Bitcoin “to take off soon” and “bring on $100,000” sometime in the future.</p>
 <figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="800" height="402" src="https://cdn.thebittimes.com/images/2024/03/18/6755ae333cf2b1b547453a49e91bafb0.webp" alt="Bitcoin price action analysis. " class="wp-image-161831" srcset="https://cdn.thebittimes.com/images/2024/03/18/6755ae333cf2b1b547453a49e91bafb0.webp 800w, https://cdn.thebittimes.com/images/2024/03/18/6755ae333cf2b1b547453a49e91bafb0.webp 300w, https://cdn.thebittimes.com/images/2024/03/18/6755ae333cf2b1b547453a49e91bafb0.webp 768w" sizes="(max-width: 800px) 100vw, 800px">
  <figcaption class="wp-element-caption"><em>Bitcoin price action analysis. Source: CryptoJelleNL</em>
  </figcaption>
 </figure>
 <p class="paragraph">That said, the advanced artificial intelligence (AI) algorithms over at the crypto market monitoring platform <em>PricePredictions </em>have set them at $68,705 on March 31, which suggests only a modest increase of 1.07% from its current price.</p>
 <p class="paragraph"><strong><em>Disclaimer:</em></strong><em> The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.&nbsp;</em></p>
</div>
<p>Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/bitcoin-inches-closer-to-major-danger-zone-as-halving-nears-tbt82802.html">https://thebittimes.com/bitcoin-inches-closer-to-major-danger-zone-as-halving-nears-tbt82802.html</a></p>

Bitcoin inches closer to major ‘danger zone’ as halving nears

Table of Contents

TheBitTimes

Other articles published on Mar 18, 2024

Dogecoin Price Prediction: Here’s Why Traders Want To Buy DOGE At $0.13

Affyn Launching on EVERY Chain! | $FYN CEO Interview

Slow XRP Price Movement Leads Investors to Algotech Soaring Presale

Standard Chartered Raises Bitcoin and Ethereum Price Targets

Solana Network Activity Surpassed Ethereum

Surge in Kelexo (KLXO) Lending Platform Popularity Among TRON (TRX) and Shiba Inu (SHIB) Investor...

Join our free newsletter for daily crypto updates!