Retracement signals before Bitcoin halving
Bitcoin has officially entered the “danger zone” (orange), and the historical pre-halving retracement has begun. From
Historically, Bitcoin has had pre-halving retracements 14-28 days before the halving.
In 2020, this retracement was -20% deep, occurred 14 days before the halving, and lasted only 3 days before hitting bottom.
In 2016, this retracement was -40% deep, occurred 28 days before the halving, and lasted 46 days before bottoming out.
Recently, $BTC retraced nearly -18%. This retracement occurred approximately 30 days before the halving and has lasted 9 days so far.
Bitcoin is repeating the history of 2016 and 2020.
Interestingly, Bitcoin recently repeated history from 2016, when Bitcoin began its pre-halving retracement approximately 30 days before the halving
After all, the pre-halving retracement in 2016 occurred approximately 28 days before the halving, but Bitcoin isn’t just repeating 2016 history.
And history is repeating 2020 - at least so far
, as the current pre-halving retracement depth is almost -18%, while in 2020 it was almost -18%. -20% depth
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