Bitcoin Pre-Halving Retrace Happening Right Now?

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Is this pullback the Pre-Halving Retrace already? Bitcoin has historically experienced a strong retrace around the time of its Halving event. Why? One explanation could be that short-term traders are buying the hype and trying to sell the news, in anticipation of quick short-term profit. The market corrects for this psychology around the Halving when people try to capitalise on gains and lock in a Return on Investment. But what these traders don’t realise is that the Pre-Halving retrace is a crucial re-accumulation point and the biggest return on investment will be generated by holding Bitcoin for many months after the Halving.

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Is Bitcoin performing its preh Haring retrace right now we’re going to be talking about that in a lot of detail in today’s video talking about also the 2020 cycle and it’s preh Haring retrace while comparing it also to the 2016 preh Haring retrace let’s dive right into it

Let’s answer this question is this preh Haring retrace occurring right now subscribe to the channel for more videos like this in the future like this video if you enjoy content like this going forward and let’s dive right into it the very short answer is I don’t think this

Is the preh harving retrace and the longer answer is going to be the rest of this video Let’s dive into it because 60 days 60 days before the harving event is historically when we tend to see a breakout into a preh harving rally and you can see how very closely aligning

With this tendency is this recent breakout from the reaccumulation range so this dip over here doesn’t have to mean now that this is the end of the preh Haring rally because technically the preh Haring rally has only just begun and the 60-day period before the harving is a historical tendency that has happened

Also in 2020 where we bottomed here on the co crash of course and then managed to reverse towards the upside that was also the beginning of the preing rally and also here in 2016 if we just align this right over here 60 days before the Haring you can

See that this is where 2016 was deviating a little bit from the historical Norm in a sense that we saw dipping in the first week before breaking out into a rally so we are firmly in the preh Haring rally we’ve only just broken out from this reaccumulation range and some pulling

Back could occur we see lots of pulling back during the 2020 period in fact we see lots of whip sawing and sees sawing volatility upside and downside volatility many will dispute this and say that this was the covid times but still this is a data point we can’t

Ignore and we saw a lot of volatility around this time but moving on to 2016 for instance when we broke out from this channel right over here we also saw upside volatility downside wicking here and even downside wicking still occurred going into the local top before the pre

Haring retrace so some dipping does occur during a pre Haring rally in 2016 we had shallower dips on the on the move move to the local top and in the 2020 period we saw very volatile moves if you want to just discard this 2020 period

Then you’ll feel feel free to do so but the point is still that dips do occur during a preh Haring rally whether they’re more volatile like in this period or less volatile like in this period so we’ve only just broken out into a preh harving rally and we’re hanging about at the

Highs here and 2020 shows that when we break into a preing rally the ascent isn’t quite as quick so we can see that upside wicking upside wicking but generally no sustained breakout and in fact when we do break out there’s some consolidation for a few weeks before

Further upside so this is a good example of showcasing how maybe we don’t have to progress in a straight line we can consolidate we can dip a bit we can just hover at the highs and at the moment we are after a a great two weeks we’re now

Dipping a little bit hovering at the highs so 2016 showcases to us that we can Ascend quickly 4 weeks in a row towards the upside shallow dips occurring and all but still maybe this is more of a combination of the two where we do see hovering at

The highs we do see shallow dipping but the main takeaway here is that this preh Haring rally has only just begun technically speaking and it’s a little bit too soon to talk about a last preh Haring retrace this preh harving retrace tends to occur a few weeks before the

Harving event and so that just means that we might have a few weeks left whether it’s still just hovering at the highs for a few more weeks reaccumulation at highs before the retest or the retrace or maybe we see a little bit more limited upside before that retrace occurs in this cycle here

In the 2020 cycle we saw a preh Haring retrace occur one one week before the harving event and here in 2016 we saw this preh Haring retrace occur 1 2 3 4 3 to 4 weeks before the harving event so if we’re looking at Mid

April as the next harving then 1 two 3 4 weeks we still that that would actually be repeating 2016 of course but we’re still not quite there yet we would by standard of History still have at least 2 weeks or even 3 weeks or so because this is late February

And 4 weeks before mid April is mid-march so 3 weeks left technically if we are to compare to 2016 standards and at best if we’re comparing to 2020 standards and of course many don’t want to do that then it’s just a week or two before the Haring so that’s an even

Better scenario if you want to just take the two data points then anything between two to four weeks maybe the risk from Bitcoin around four weeks before the harving maybe a little bit sooner if you want to be even more conservative but generally speaking we

Should see a at least two to three weeks more of upside 3 weeks in general so whether that’s upside or reaccumulation at these highs whether it’s limited upside as well still we’re not yet in the last preh Haring retrace phase and when we’re talking about retracement

Periods in 2020 it was a 19% retrace and we know that a 10% retrace from current price levels would get us into the top of this reaccumulation level for a retest of this post breakout macro reaccumulation range so that would be an interesting technical retest for a 10%

Prehab retrace but for a 19% % preing retrace toer while getting this level then we should have to Rally a little bit higher because from higher price levels 19% could get us to that range high reaccumulation range resistance so right over here we need to Rally a bit

More if a 19% retrace is to get us to this Range High Resistance right over here but in 2016 we saw a 40% retracement if we’re taken into account this entire upside Wick and this downside Wick over here 29% if we just taking into account the candle bodies so

Anything between 19 to 30% is something we could expect at this point in the cycle and in this cycle itself maybe you want to be a little bit more conservative and just say 15% or 20% whatever the case may be whatever this retrace turns out to be

It’s going to be the last preh Haring retrace and it’s going to be the last bargain buying opportunity before we transition into this post harving reaccumulation period which will take place after the Haring and will last quite a substantial amount of time you can see how this is a post Haring

Reaccumulation range that lasts several weeks and it’s not just after 2020 it’s also after 2016 where it takes many weeks for Bitcoin to to clarify itself to just settle after the the harving Catalyst has been technically priced in according to Traders because this is this is a buy the hype sell the news

Event but the Haring isn’t priced in longer term because we see price rally into a really parabolic rally towards new alltime highs so in the immediate short term in the immediate aftermath of the harvy there is going to be some deflation price is going to drop valuations are going to drop in the

Market for all coins as well but that’s only going to set up a reaccumulation period after the Haring in preparation for this parabolic rally to new alltime highs so are we at the preh Haring retrace not quite yet technically we can still have a few more weeks left before

A few weeks before the having we local top and pull back for that preh having retrace but it’s a little bit too soon especially since we’ve technically just entered this preh Haring rally it’s only just broken out from this reaccumulation range so talking about this preh hovering rally just ending right now

It’s normal that after a period of what is essentially 1 2 3 and four weeks four weeks of upside four weeks of green candles it’s okay to have one red Candle on the way to a reaccumulation range at these highs at the worst maybe we dip a little bit

Better a little bit deeper rather or we experience a bit more limited upside after we’ve clarified whether it’s a range or a deeper dip in any case it’s okay to have this dip at these highs after a preh Haring rally breakout but it is just the beginning of the phase

And we still have a few weeks left until the preh Haring retrace occurs thanks so much for watching subscribe to the channel for more videos like this in the future like this video if you enjoy content this going forward check out the top right hand corner video for more and

I’ll speak to you in the next one speak to you soon