This Bitcoin Chart Mirrors Sinister 2019 Shadow: Retrace To $20,000 On The Horizon?

This Bitcoin Chart Mirrors Sinister 2019 Shadow: Retrace To $20,000 On The Horizon?
фото показано с : newsbtc.com

2023-9-23 20:00

Bitcoin (BTC), the largest cryptocurrency by market capitalization, has faced a setback in its recent gains after failing to consolidate above the $27,000 level. With no positive macro news to drive BTC beyond upper resistance lines, industry experts are looking for a chart analysis that suggests BTC may be on the verge of a significant move toward $20,000. 

This potential lower price point could serve as a new higher low in Bitcoin’s 1-week chart, reminiscent of its trajectory in 2019 before the halving event.

Bitcoin Chart Flashing Red

Crypto analyst Rekt Capital recently shared a chart on X (formerly Twitter) outlining Bitcoin’s potential downward trajectory. According to Rekt Capital’s analysis, Bitcoin may revisit the $20,000 mark, establishing a new higher low on its 1-week chart, mirroring the price movement observed in 2019 before the halving event.

Rekt Capital highlights the significance of a revisit to the Macro Higher Low in the current cycle, which could occur in early 2024, coinciding with the halving year. In the four-year cycle, this would signify that the downside wick of Candle 4 would form a Macro Higher Low relative to Candle 3, as seen in another chart shared by Rekt below. 

While some argue that another drop into the Macro Higher Low is unlikely due to the COVID-19 crash in March 2020 as a black swan event, Rekt Capital emphasizes that the magnitude of a potential upcoming drop may differ considerably. 

The COVID-19 crash resulted in a 72% drop from the 2019 local top to the March 2020 higher low. However, if the 2023 local top were around $31,000, it would only require a 37% drop to revisit the higher low. 

While a repeat of the -72% crash is unlikely, Rekt Capital suggests that Bitcoin could retrace -37% without needing another black swan event.

With Bitcoin being 210 days away from halving in April 2024, Rekt Capital parallels the 2019 cycle, during which BTC experienced a relief rally before forming another lower high. 

All around, Bitcoin appears to be experiencing a similar relief rally. Rekt Capital suggests that Bitcoin may not need a drastic crash or another black swan event over the following months to reach its Macro Higher Low in this cycle but rather a retracement of approximately 27% from current prices.

Currently, the largest cryptocurrency in the market is trading at $26,600. Despite experiencing a retracement below the $27,000 level, Bitcoin has achieved a slight profit of 0.7% within the 24-hour. 

As highlighted by Rekt Capital, it remains uncertain whether Bitcoin will follow the path observed in 2019. However, what is evident is that the BTC market is exhibiting signs of stagnation, with a potential price breakout looming on either side. 

Featured image from iStock, chart from TradingView.com 

origin »

Bitcoin price in Telegram @btc_price_every_hour

Bitcoin (BTC) на Currencies.ru

$ 62607.17 (+0.02%)
Объем 24H $19.247b
Изменеия 24h: 1.24 %, 7d: 3.45 %
Cегодня L: $62301.36 - H: $62776.24
Капитализация $1255.386b Rank 1
Цена в час новости $ 26602.64 (135.34%)

btc bitcoin chart resistance upper lines industry

Источник: newsbtc.com

btc bitcoin → Результатов: 126


Grok AI Predicts ONDO Price If Bitcoin (BTC) Crashes to $40k

Bitcoin has done it before, dropping 30%, 40%, and even 50% in a matter of weeks, and each time, altcoins felt the impact harder than BTC itself. Now, with prediction markets placing a 52% probability on BTC falling below $50,000 before the end of this year, the question of what happens to ONDO price is […] The post Grok AI Predicts ONDO Price If Bitcoin (BTC) Crashes to $40k appeared first on CaptainAltcoin.

2026-6-10 16:30


Bitcoin price prediction: Is Strategy’s 1,550 BTC buy a bullish signal after the crash?

Strategy bought 1,550 BTC after a rare 32 BTC sale. Bitcoin is stabilising near $63K after a sharp 20% monthly drop. Analysts split on whether the $60K support will hold or break lower. Bitcoin has been moving through a volatile stretch marked by sharp liquidations, uneven recovery attempts, and conflicting signals from both technical indicators […] The post Bitcoin price prediction: Is Strategy’s 1,550 BTC buy a bullish signal after the crash? appeared first on CoinJournal.

2026-6-9 18:39


Bitcoin price prediction: BTC faces critical resistance at $78,000 as ETF outflows mount

Bitcoin ETFs posted $1. 25 billion in weekly net outflows. BTC must clear $78,152 to sustain bullish momentum. Strategy paused Bitcoin purchases despite holding 843,738 BTC. Bitcoin (BTC) continued to trade near the $77,000 level on Monday amid growing institutional outflows against improving macro sentiment and rising demand from spot buyers.

2026-5-25 12:16


Фото:

Bitcoin Holds $88K as Whales Accumulate, But Long-Term Investors Are Moving Toward ZKP for Its Privacy-AI Breakout Potential

This week shows Bitcoin (BTC) stabilising near the $88,000 level after completing a key technical move by filling its lower CME futures gap. The recent pullback from the $98,000 region pushed BTC into the $88,000–$89,000 zone, where selling pressure has slowed, and price has begun to consolidate.

2026-1-26 20:00


дальше еще 77 новостей →

Партнеры Currencies.ru



Реклама на Currencies.ru

Самое свежее на Currencies.ru

Why is Jito price rising and how high can it climb?

Jito (JTO) extended its recent rally after recording another strong trading session, with the token climbing nearly 12% in 24 hours to trade around $0. 76. The move pushed JTO close to the top of its daily range of $0.