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.

Ethereum Breaking This Single Level Will Spark a Strong Rally
Wednesday April 01, 2020

Ethereum is still struggling to clear the main $135 resistance area against the US Dollar. ETH price must break the $135 hurdle to start a strong rally in the coming sessions. Ethereum is currently...

The post Ethereum Breaking This Single Level Will Spark a Strong Rally 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
— Galaxy (@galaxyBTC) March 13, 2019

Bitcoin Just Surged to $6,500 After Over 10% Weekend Crash
Monday March 30, 2020

In the past 20 minutes, Bitcoin has traded above $6,500, marking a rapid 12% gain from the $5,800 bottom seen on Sunday evening (UTC). Due to this move, the BitMEX funding rate on the...

The post Bitcoin Just Surged to $6,500 After Over 10% Weekend Crash 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
The post Crypto Analyst: April Is the Last Month to Buy Cheap BTC, Bitcoin Price Never Again $3K appeared first on NewsBTC.

Here’s Why Bitcoin Could Correct To $6.5K Before A Fresh Rally
Friday April 03, 2020

Bitcoin surged above the $7,000 resistance and reached the $7,200 bullish target against the US Dollar. BTC price is currently correcting lower and it could test the $6,500 support area. Bitcoin rallied significantly above...

The post Here’s Why Bitcoin Could Correct To $6.5K Before A Fresh Rally appeared first on 12bitplay - Bitcoin Play.

You may also like...