Crypto Analyst: April Is the Last Month to Buy Cheap BTC, Bitcoin Price Never Again $3K
As Bitcoin’s current trading range tightens and price consolidates ahead of the next major trend-defining move, the entire crypto community is speculating on whether or not Bitcoin price may have bottomed or if there is more pain to come for BTC investors.
One prominent crypto trader and analyst is confident that Bitcoin price will never again trade in the $3K range, and that April will be the last month to buy “cheap BTC.”
Bitcoin Price Bottoming Pattern Suggests Cheap BTC Ends This April
Volatility has all but disappeared in Bitcoin price charts. When this happens, it typically indicates that an extremely violent move is incoming that could set the trend tone for weeks and even months to come.
The last time Bitcoin price went through an extended period of stability, was right before the powerful break of critical support at $6K that brought us to our current trading range. If the touch of the current bear market low of $3,150 was indeed the bottom, the next major movement could be up and send the first ever crypto back on a course of bullish expansion. But if price continues to trend downward, another 50% drop isn’t out of the question.
Bitcoin (BTC) Price Smashes Resistance: Bulls Target Fresh High
Saturday May 25, 2019
Bitcoin price started a strong rise above the $7,800 and $8,000 resistances against the US Dollar. The price gained traction and even traded close to the $8,200 resistance area. This week’s followed important declining...
The post Bitcoin (BTC) Price Smashes Resistance: Bulls Target Fresh High appeared first on 12bitplay - Bitcoin Play.
Although prices may appear to be random (to some), they actually create repeating patterns and trends.
Observing this pattern makes April the last month of cheap $BTC.
And now, of course it will be cheap multiple times in the future, but never $3K cheap. $BTC pic.twitter.com/LFGfJBYdnz
— Galaxy (@galaxyBTC) March 13, 2019
Crypto Market Remains Strong: Bitcoin Cash, BNB, EOS, TRX Price Analysis
Saturday May 25, 2019
The total crypto market cap grinded higher and tested the $245.0B resistance area. Bitcoin price is currently consolidating near the $8,000 level. EOS price broke the $6.30 resistance and it is currently moving towards...
The post Crypto Market Remains Strong: Bitcoin Cash, BNB, EOS, TRX Price Analysis appeared first on 12bitplay - Bitcoin Play.
One prominent cryptocurrency analyst, GalaxyBTC, however, expects the current trading range to expire starting in April 2019. The analyst’s chart demonstrates the price structure of the previous Bitcoin bear market making three touches of a downtrend line that were violently rejected. After the third touch, BTC breaks through with gusto and reignites the next bull market with a slow, yet steady ascent.
Related Reading | Poll Reveals Majority of Crypto Investors See Bitcoin Price at $100,000 to Millions Long-Term
Comparing the current bear market BTC price structure, the trader believes there will be a final rejection when Bitcoin touches the downtrend line once again in the coming days, followed by a final swing up that breaks through the downtrend resistance and restores confidence in the market.
The first touch of the downtrend was created when Bitcoin’s parabolic advance was broken in late December 2017, and the most recent touch was when Bitcoin exploded below $6K. The third and final touch before breakout is expected any day according to GalaxyBTC’s charts.
Bitcoin Price: BTC Never Again Below $3K
Not only does the trader expect the end of “cheap BTC: to come to an end in April, which is only a mere month away at this point, the crypto analyst also believes that this marks the last time Bitcoin will ever trade in the $3K range.
He further clarifies that while Bitcoin will occasionally reach other price points that can be perceived as “cheap,” the price per BTC will never again be “$3K cheap.”
Related Reading | Crypto Comeback: One Simple Chart Proves Altcoin Season Is Upon Us
Bitcoin’s current bear market bottom reached $3,150 and made a quick bounce. Since then, the price hasn’t retested what appears to be the ultimate low, suggesting that those who missed out on buying that low will be forever waiting for their opportunity to buy the elusive BTC price bottom.
Featured image from Shutterstock
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Ripple (XRP) Price Testing Key Support: More Range Moves Likely
Thursday May 23, 2019
Ripple price struggled to break the $0.4080 and $0.4085 resistance levels against the US dollar. The price declined recently and traded below the $0.4000, $0.3950 and $0.3840 support levels. This week’s followed bullish trend...
The post Ripple (XRP) Price Testing Key Support: More Range Moves Likely appeared first on 12bitplay - Bitcoin Play.